Question: Question 3 This is the same payoff table as Question 2 - Below is a payoff table that lists four mortgage options: Decision | 1-year

Question 3 This is the same payoff table as

Question 3 This is the same payoff table as Question 2 - Below is a payoff table that lists four mortgage options: Decision | 1-year ARM | 3-year ARM | 5-year Arm | 30-year fixed Rates Rise $66,645 $62,857 $55,895 $52,276 Outcomes Rates Stable $43,650 $47,698 $50,894 $52,276 Rates Fall $38,560 $42,726 $48,134 $52,276 3) What is the average payoff for the 5-year ARM? O A. $53,395 O B. $49,514 O C. $51,641 OD. $52,015

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