Initial monthly payment on adjustable rate mortgage

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Reference no: EM131459911

The initial monthly payment on an adjustable rate mortgage with a balance of $100,000, an interest rate of 8.5% annually and a term of 30 years will be

1) $3,711.78

2) $733.76

3) $768.91

4) $3,688.83

Reference no: EM131459911

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