Question: Consider a $150,000 variable rate loan with an initial interest rate of 8.75% and a 30-year amortization period. Assuming a 1% increase in rate, what

Consider a $150,000 variable rate loan with an initial interest rate of 8.75% and a 30-year amortization period. Assuming a 1% increase in rate, what is the second-year monthly debt service? O $43,765.13 O $15,464.76 O $15,444.06 O $15,555.87

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