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OpenStudy (anonymous):
Stefani is purchasing a house and finances $410,350 of the purchase price. The mortgage is a 30-year 7/3 ARM at 6.5% with a 4/13 cap structure. What will the remaining balance be after the first seven years?
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OpenStudy (anonymous):
Do you know the compound interest formula?
OpenStudy (anonymous):
Bm =B ((1+I)^nt - (1+i)^m / (1+i)^nt - 1)
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