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Harry has a 1 year ARM for 75 000 over a 25 year term The...

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Harry has a 1 year ARM for 75 000 over a 25 year term The margin is 2 and the index rate starts out at 2 5 and increases to 3 5 at the first adjustment The balance of principal at the end of the first year is 73 338 52 Find the amount of monthly payment for the first month of the first year If necessary use the accompanying table of monthly payments Round to the nearest cent Click the icon to view the monthly payments table OA 489 42 OB 416 87 O C 388 14 D None of the above is correct

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