Emina took out a 5/1 variable-rate mortgage for $120,000. The interest rate for the first period was fixed at 5.25%, and the loan was amortized over 30 years. At the end of the initial loan period, the interest rate was 6.75%, plus a 1.5% margin. What was Emina's monthly mortgage payment during the initial fixed-rate period? Show your work.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Emina took out a 5/1 variable-rate mortgage for $120,000. The interest rate for the first period was fixed at 5.25%, and the loan was ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What angle of rotation does the letter s have? a. 0° b. 90° c. 120° d. 180°
Answers (1)
What number is 1,000,000 greater than337,676
Answers (2)
578 business and personal emails there are 30 fewer personal emails so how many personal emails
Answers (1)
What time is it when someone says twenty-three hundred?
Answers (2)
Identify the two numbers less than 20 with the most factors
Answers (1)
New Questions in Mathematics
Determine which consecutive integers do not have a real zero of f (x) = x^3+5x^2 - x - 6 between them. (-6,-5) (-2,-1) (-5,-4) (1,2)
Answers (1)
8 ⅔ - ⅓ + (⅔) ² + 56 : 7=
Answers (2)
The male elephant weighs 8,000 pounds wich is the is th same as 4 tons the female weighs 7,000 pounds how many tons does the female weighs
Answers (1)
What is 25quarter and 3 nickels and 1pennie represent in decimal form and fraction form?
Answers (1)
Donovan bought 5.5 kilograms of flour for $8.25. how much does 1 kilogram of flour cost?
Answers (1)