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Business, 17.03.2021 23:40 darius12318

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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