Chapter 5 Financial Planning Exercise 10 Conventional Vs. ARM mortgage payments What would the monthly payments be on a $80,000 loan if the mortgage were set up a A 15-year, 7 percent federate loan. Round the answer to the newest cent per month t. A 30-year ARM in which the Wonder des margin of 2.5 to the index rate, which now stands at 4.5 percent. Find the monthly mortgage payments for the first year only, Round the answer to the nearest cont. per month