FIN 3710 .edu
Questions 3-6 are based on the following information for an adjustable rate mortgage (ARM): i. Loan amount - $150,000; ii. Loan term is 30 years, while the borrower is only expected to stay for 5 years; iii. Introduction rate – 6%; iv. Index – one year treasury; v. Payment adjusted annually; vi. Margin is a constant 2%; vii Discount points ... ................
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