Assume the new interest rate is 6%. What is the new payment in $s when the...
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Assume the new interest rate is 6%. What is the new payment in $s when the rate resets at the end of year 2? Copied from prior: You have just bought a new house and gotten an adjustable-rate mortgage. The mortgage interest rate adjusts at the second anniversary. The mortgage at origination is $300,000, 9% rate, and 30 years. Assume the new interest rate is 6%. What is the new payment in $s when the rate resets at the end of year 2? Copied from prior: You have just bought a new house and gotten an adjustable-rate mortgage. The mortgage interest rate adjusts at the second anniversary. The mortgage at origination is $300,000, 9% rate, and 30 years.
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