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n adjustable-rate mortgage resets every year. For the first year, the index rate is 3.3% and the margin is 2.9%. The loan is for $200,000
n adjustable-rate mortgage resets every year. For the first year, the index rate is 3.3% and the margin is 2.9%. The loan is for $200,000 and has a term of 30 years. What is the required monthly payment (principal and interest) for the first year?
1,426.88
1,708.37
1,224.94
875.9
832.46
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