If your mortgage balance was $60,000 and you had a floating-rate mortgage that called for you to
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If your mortgage balance was $60,000 and you had a floating-rate mortgage that called for you to pay interest at an annual rate of 2.75 percent over the one-year T-bill rate and the T-bill rate has been averaging 2.05 percent, how much interest would you owe on your mortgage next month?
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Related Book For 
Financial Institutions, Markets and Money
ISBN: 978-1119330363
12th edition
Authors: David S. Kidwell, David W. Blackwell, David A. Whidbee, Richard W. Sias
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