Question: Question 1 6.6 pts Use the information below to answer the following question(s). Below is a payoff table that lists four mortgage options: Outcome Decision

Question 1 6.6 pts Use the information below to answer the following question(s). Below is a payoff table that lists four mortgage options: Outcome Decision Rates Rise Rates Stable Rates Fall 1-year ARM 3-year ARM 5-year ARM $66,645 $62,857 $55,895 $52,276 $43,650 $38,560 $42,726 $48,134 S52,276 $47,698 S50,894 $52,276 30-year fixed What is the average payoff for the 3-year ARM? $55,278 $51,094 $52,792 $45,212 Next

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