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A price level adjusted mortgage (PLAM) is made with the following terms, to be adjusted...

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Accounting

A price level adjusted mortgage (PLAM) is made with the following terms, to be adjusted
by the CPI after year 1:
Amount = $125,000
Initial Interest Rate =5% monthly compounded
Term =30 years
CPI during year 1=8%(increase)
What is the balance at the end of the first year?
A) $125,000
B) $123,155
C) $133,008

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