The following problem involves adjustable-rate mortgage. You the given table if necessary.
Suppose your mortgage is $55,400 for 25 years. The index rate is 4.5% and the margin is 2.5%. After three years, the Treasury index decreases to 2%. Using the adjusted balance of
find the new monthly payment.
A. $203.42
B. $305.50
C. $314.64
D. None of the above is correct.
Answer: C
Mathematics
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A. -2x
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D. 2x - 32x
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