Question: Bronn takes out an interest - only ( zero amortizing ) , 5 / 1 hybrid, adjustable rate mortgage of $ 2 3 2 ,

Bronn takes out an interest-only (zero amortizing),5/1 hybrid, adjustable rate mortgage of $232,000 with 20-year maturity.
The index is SOFR and the margin is 1.5%.
The SOFT equals 1% at loan origination and it is expected that SOFR at the end of the 5th year will be 1.75% p.a. compounded monthly.
His mortgage payment for the 65th month equals $

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