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Use the following information to answer the next three questions: You purchase a house for $958,000 financed via a 95% LTV asset integrated mortgage (AIM)
Use the following information to answer the next three questions: You purchase a house for $958,000 financed via a 95% LTV asset integrated mortgage (AIM) amortized over 30 years (monthly payments) at 3.35%. This loan also requires that a 15% LTV investment be made in a pledged annuity earning 4.2% compounded monthly. You hold the loan for exactly 12 years before paying it off. Question 19 3 pts Compute the outstanding balance on the AIM at the end of the holding period. O $547,323.97 o $593,265.41 O $649.947.21 O $673,734.99 $684,154.96
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