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Please solve using a BA II calculator What is the contract rate on this ARM for each of the years below? What is the monthly

Please solve using a BA II calculator

What is the contract rate on this ARM for each of the years below? What is the monthly payment amount for each year? What is the effective interest rate the borrower pays on the loan (ex-post, of course.) What is the total amount of interest that the borrower will pay on this loan?

Index: COFI

Margin: 2 Lifetime Cap: 5 Annual Cap: 2 Points: 1

Teaser: 1 Maturity 10 years Balance: $100,000

year index
1 9
2 8
3 11
4 12
5 12
6 9
7 8
8 5
9 4
10 2

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