Question: (Type C.5) A borrower takes a 30-year fully amortizing 5/1 ARM for $225,000 with an initial interest rate of 5 percent Assuming the index on

(Type C.5) A borrower takes a 30-year fully amortizing 5/1 ARM for $225,000 with an initial interest rate of 5 percent Assuming the index on which the loan rate is based rises by 1.5 percent in the fourth year of the loan and remains at that level, what will the payment be in the sixth year of the loan

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