Suppose your mortgage is $55,400 for 25 years. The index rate is 7.5% and the...
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Accounting
Suppose your mortgage is $55,400 for 25 years. The index rate is 7.5% and the margin is 2.5%. After three years, the Treasury index decreases to 6.5%. Using the adjusted balance of $53,896.88, find the new monthly payment.
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