What is the initial monthly payment

Reference no: EM13698140

You borrowed $150,000 with a 30-years payback term and a variable APR that starts at 9% and can be changed every five years

What is the initial monthly payment?

If, at the end of the five years, the lender’s interest rate changes to 9.75% APR, what will the new monthly payment be?

Reference no: EM13698140

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