Question: Use the information below to answer the following question(s). Below is a payoff table that lists four mortgage options: What is the best payoff rate

Use the information below to answer the following

Use the information below to answer the following question(s). Below is a payoff table that lists four mortgage options: What is the best payoff rate for the 1-year ARM? Outcomes Desicion Rates Rise Rates Stable Rates Fall 1-year ARM $66,645 $43,650 $38,560 3-year ARM $62,857 $47,698 $42,726 5-year ARM $55,895 $50,894 $48,134 30-year fixed $52,276 $52,276 $52,276 59.014

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