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Given a 3-1 hybrid ARM with a 2-1-5 cap structure, and the following interest rate scenario, suppose the mortgage rate is 6 percent today when

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Given a 3-1 hybrid ARM with a 2-1-5 cap structure, and the following interest rate scenario, suppose the mortgage rate is 6 percent today when the mortgage is approved, the mortgage rate 5 years from now will be not include percentage sign.) %. (Do Interest Rate Year 0 1 6.00% 2 3 6.50% 7.00% 7.50% 8.00% 10.00% 4 5

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