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OpenStudy (anonymous):
Brad and Angela are purchasing a house with a 15-year, 3/1 ARM for $185,000 at 4.15% with a 2/10 cap structure. What will the difference in payments be from year 3 to year 4?
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OpenStudy (lena772):
This calculator is very good in answering this problem and problems like this. http://www.homebuyergo.com/Adjustable_Rate_Mortgage.aspx
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