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Tywin Lannister borrows $ 7 4 9 , 0 0 0 from the Iron Bank to buy a small castle for his youngest son. The
Tywin Lannister borrows $ from the Iron Bank to buy a small castle for his youngest son. The adjustable rate mortgage carries a percent rate for the first years. After that the rate will change annually to reflect market conditions. The annual cap is ie the largest increase in any year is The loan term is years and payments are made monthly.
What is the largest possible mortgage payment Tywin might owe when the interest rate resets at the beginning of the rd year?
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