2 Points
Emina took out a 5/1 variable-rate mortgage for $120,000. The interest rate
for...
Mathematics, 26.03.2020 20:54 iidoqeii16ovh8tk
2 Points
Emina took out a 5/1 variable-rate mortgage for $120,000. The interest rate
for the first period was fixed at 5.25%, and the loan was amortized over 30
years. At the end of the initial loan period, the interest rate was 6.75%, plus a
1.5% margin. What will the unpaid balance on her mortgage be after her initial
period expires?
O
A. $113,739.09
O B. $123,740.97
O c. $110,579.39
O D. $102,164.09
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