Question: Consider a $150,000 variable rate loan with an initial interest rate of 8.75% and a 30-year amortization period. What is the first-year annual debt service?

Consider a $150,000 variable rate loan with an initial interest rate

Consider a $150,000 variable rate loan with an initial interest rate of 8.75% and a 30-year amortization period. What is the first-year annual debt service? O $67,019.19 $14,160.61 O $12,000.00 O $15.018.12

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