You borrow $65,000 with a variable rate loan for 10 years. During years 1-3 (for 3 years)

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You borrow $65,000 with a variable rate loan for 10 years. During years 1-3 (for 3 years) you pay 2.75%.

a. Calculate the monthly payments.

b. After the 3^rd year, the rate rises to 3.5%. Calculate your new monthly payments.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 30, 2023 12:38 AM

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You borrow $65,000 with a variable rate loan for 10 years. During years 1-3 (for 3 years)

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a To calculate the monthly payments during the first 3 years years 13 with a variable interest rate ... View the full answer

Income Tax Fundamentals 2013

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