History, 15.04.2021 18:50 GreenHerbz206
The charts show the effect of an interest rate adjustment on an adjustable-rate mortgage.
Before adjustment
After adjustment
Component
Cost
Component
Cost
(P) Principal
$200,000
(P) Principal
$187,000
(R) Monthly interest rate
4%
(R) Monthly interest rate
5%
(n) Total number of
monthly payments
remaining
360
(n) Total number of
monthly payments
remaining
336
(M) Monthly payment
$1,059.85
(M) Monthly payment
$1,162.56
Answers: 2
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The charts show the effect of an interest rate adjustment on an adjustable-rate mortgage.
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