Question: HOW would I do this part a on a financial calculator?Pv PMT ETC 11. Conventional vs. ARM mortgage payments. What would the monthly payments be
11. Conventional vs. ARM mortgage payments. What would the monthly payments be on a $150,000 loan if the mortgage were set up as: a. A 15-year, 6 percent fixed-rate loan? b. A 30-year ARM in which the lender adds a 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. 11. Conventional vs. ARM mortgage payments. What would the monthly payments be on a $150,000 loan if the mortgage were set up as: a. A 15-year, 6 percent fixed-rate loan? b. A 30-year ARM in which the lender adds a 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
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