Question: Use the information below to answer the following question. Below is a payoff table that lists four mortgage options: Outcome (in 000's) Decision 1-yr ARM

Use the information below to answer the following question. Below is a payoff table that lists four mortgage options: Outcome (in 000's) Decision 1-yr ARM 3-Yr ARM S-yr ARM 30-yr ARM Rates Rise $80 $75 $65 $60 Rates Stable $45 $50 S55 $60 Rates Fall $40 $45 $50 $60 What is the average payoff for the 3-year ARM?IN WHOLE DOLLARS, NO DECIMALS. For example $12, $26, 39

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