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Monoboi:
Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year 5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years? a $396,038.65 b$427,354.28 c $407,836.29 d $377,238.57
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