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I need help with this question. 13 4 points Amy Secret borrowed $380,000 via a 1/1 adjustable rate mortgage (ARM) on a $475,000 home purchase.
I need help with this question.
13 4 points Amy Secret borrowed $380,000 via a 1/1 adjustable rate mortgage (ARM) on a $475,000 home purchase. The rates I want you to use in the resulting payment calculations over the first three years are 8.93%, 8.23%, and 11.05%. The payment cap is equal to $300. There are 0,75 discount points on the loan as well as origination fees equalling $1,200 A prepayment penalty of 2% will be invoked if the loan is repald within 4 years. What are the monthly mortgage payments over the first three years of the loan? $2.827.83 $2,026,27: $2,824.69 $3,038.45: $2.852:49: $3,152.49 $3,038.45: $3,335.45 $3.636.45 $3.038.45: $2.85249 $3,066.77 $3,798.06 $3.565.61: $4,04453 $3.790.06 $3.565.61: $3665.61 $3798.06 $4098.06: $4,398.06 $210.61: $212.18: $213.76 0000000 Step by Step Solution
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