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OpenStudy (anonymous):
Chris and Justine are purchasing a townhouse and finance $112,900 with a 25-year 6/3 ARM at 4.85% with a 2/12 cap structure. What will their payments be at the beginning of the seventh year assuming they are charged the maximum interest rate for that year?
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OpenStudy (anonymous):
$759.70 $557.09 $674.48 $650.17
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