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15 May, 22:41

5. Marcos obtains a mortgage for $350,000 with the following terms:

30 year 4/1 ARM at 5.5% with a 2/6 cap structure

• Initial monthly payment: $1,987.26

What will be the balance of the loan at the end of the initial interest rate period?

$329,484.18

$254,611.45

$323,612.11

$320,806.22

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Answers (2)
  1. 15 May, 23:10
    0
    254,611.45 ...
  2. 16 May, 01:06
    0
    254,611.45
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