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Please show what you would input into financial calculator to get the answer. 1. A $75,000 ARM is offered at 7.75% with monthly payments for
Please show what you would input into financial calculator to get the answer.
1. A $75,000 ARM is offered at 7.75% with monthly payments for 30 years. Future interest rates are expected to be: EOY1,9.5%; EOY2, 10.25%. One discount point was paid at origination. Calculate the forecast payment for the first 3 years. [$537.31, $628.98, $669.07] a. Calculate the forecast payment for the first 3 years. [$537.31, $628.98, $669.07] b. Calculate the effective interest rate for a 3 year holding period. [9.47%] a 1. A $75,000 ARM is offered at 7.75% with monthly payments for 30 years. Future interest rates are expected to be: EOY1,9.5%; EOY2, 10.25%. One discount point was paid at origination. Calculate the forecast payment for the first 3 years. [$537.31, $628.98, $669.07] a. Calculate the forecast payment for the first 3 years. [$537.31, $628.98, $669.07] b. Calculate the effective interest rate for a 3 year holding period. [9.47%] aStep by Step Solution
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