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You get a $250,000, 20 year 3/2 ARM at 6% with zero points. a. what are the initial payments? b. Three years into the loan

You get a $250,000, 20 year 3/2 ARM at 6% with zero points. a. what are the initial payments? b. Three years into the loan the relevant interest rate has fallen to 4%, what are your new payments? c. what is the loans APR?

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