Question: You have a fully amortizing level payment loan with an original principal amount of $100,000, an interest rate of 10% and a term of 30

You have a fully amortizing level payment loan with an original principal amount of $100,000, an interest rate of 10% and a term of 30 years.what would the new payment be if it were a 5-1 Hybrid ARM and the rate increased to 12% with the first adjustment (year 6)?

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