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Your adjustable-rate mortgage (ARM) contract is $150,000, fully amortizing monthly payments for 30 years. Your contract rates are 3.18% and 4.20%, respectively, for the first
Your adjustable-rate mortgage (ARM) contract is $150,000, fully amortizing monthly payments for 30 years. Your contract rates are 3.18% and 4.20%, respectively, for the first two years. What is your monthly payment for year two?
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$667.45
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$649.08
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$748.96
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$731.10
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