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11 September, 08:22

Bart has a 20-year adjustable rate mortgage that has a rate of 3.7% for the first 2 years. The amount of the mortgage is $249,000. What is the monthly payment during this initial period?

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  1. 11 September, 08:41
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    249,000: ((1 - (1+0.037

    :12) ^ (-12*20)) : (0.037:12))

    =1,469.82
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