You are considering a 400000 30-year 51 hybrid arm the, Ask an Expert

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You are considering a $400,000 30-year 5/1 hybrid ARM. The initial teaser rate is 6.12%. After the 60th payment, the loan adjusts annually to 276 basis points above the current 1- year LIBOR which is 4.8%.

1. What is the balance of the remaining loan at the end of year 5?

2. What is the size of the 61th payment?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92845703

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