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OpenStudy (anonymous):
A bank offers three mortgages shown. Which mortgage(s) will have fixed payments for at least the first 3 years? •Fixed rate mortgage at 5% for 30 years •Adjustable rate mortgage at 3% for 30 years with terms 3/1 and a cap of 2/5 •Balloon mortgage at 4% with terms 30/5 Fixed rate only Fixed rate and balloon only Fixed rate and adjustable rate only Fixed rate, adjustable rate, and balloon
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