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You have taken out a $ 8 0 0 , 0 0 0 , one - year ARM. The teaser rate in the first year
You have taken out a $ oneyear ARM. The teaser rate in the first year is annual The index interest rate after the first year is and the margin is Note: The term on this ARM is years. There is also a periodic annual rate cap of Given this information, determine the monthly mortgage payment you would be scheduled to make in month of the mortgage loans term.
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