Question
if u have an ARM Mortgage maturing in 5 years with an interest of 3% what will be its monthly payment assuming principal of 500,000$
if u have an ARM Mortgage maturing in 5 years with an interest of 3% what will be its monthly payment assuming principal of 500,000$ ?
Round to the Closest dollar
Hint: Assume that the mortgage is a fixed rate mortgage maturing in 30 years! ( Ignore the 5 year maturity)
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
