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(Solved): A $200,000 standard ARM with an initial interest rate of 2% with a term of 30 years has payments tha ...



A $200,000 standard ARM with an initial interest rate of 2% with a term of 30 years has payments that reset at the end of each year based on an index.  What are the new payments in Y2 if the interest rate is reset to 6%?

 



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1- A B C D 1 1- 2 Monthly payment for year 1 =Using PMT function in MS excel pmt(rate,nper,pv,fv,type) rate =2%/12 = .16667% nper =30*12 =360 pv =20
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