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Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322 Exercise 7
Assume the following for a one-year adjustable rate mortgage loan that is tied to the one-year Treasury rate:
Given these assumptions, calculate the following:
a. Initial monthly payment.
b. Loan balance end of year 1.
c. Year 2 contract rate.
d. Year 2 monthly payment.
e. Loan balance end of year 2.
f. Year 3 contract rate.
g. Year 3 payment
Given these assumptions, calculate the following:a. Initial monthly payment.
b. Loan balance end of year 1.
c. Year 2 contract rate.
d. Year 2 monthly payment.
e. Loan balance end of year 2.
f. Year 3 contract rate.
g. Year 3 payment
Explanation
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Real Estate Principles 3rd Edition by David Ling,Wayne Archer
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