Question: Henry secures a $ 3 6 0 , 0 0 0 3 / 1 ARM loan at an initial interest rate of 3 . 1

Henry secures a $360,0003/1 ARM loan at an initial interest rate of 3.125%. His monthly payment is $1,542.15. After 3 years, the interest rate on Henry's loan changes to 3.75%. Calculate his new monthly payment (in dollars).(Round your answer to the nearest cent.)Henry secures a $360,0003/1 ARM loan at an initial interest rate of 3.125%. His monthly payment is $1,542.15. After 3 years, the interest rate on Henry's loan changes to 3.75%. Calculate his new monthly payment (in dollars).(Round your answer to the nearest cent.)Henry secures a $360,0003/1 ARM loan at an initial interest rate of 3.125%. His monthly payment is $1,542.15. After 3 years, the interest rate on Henry's loan changes to 3.75%. Calculate his new monthly payment (in dollars).(Round your answer to the nearest cent.)

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