Question: Please show work! Question 11 0 / 10 pts You have taken out a $767,708 unrestricted ARM. The loan rate is set by the 1

Please show work! Question 11 0 / 10 pts You have

Please show work!

Question 11 0 / 10 pts You have taken out a $767,708 unrestricted ARM. The loan rate is set by the 1 Year T- Bill rate plus a margin of 2.81%. Calculate the payment at loan initiation if the 1 year T-Bill is yielding 3.66%. Note, the full term of this mortgage is 31 years

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