Bucky Barnes, is obtaining a $300,000 U.S. ARM paid monthly with an amortation of 30 years and an interest rate of 6%. T

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Bucky Barnes Is Obtaining A 300 000 U S Arm Paid Monthly With An Amortation Of 30 Years And An Interest Rate Of 6 T 1 (22.79 KiB) Viewed 39 times

Bucky Barnes, is obtaining a $300,000 U.S. ARM paid monthly with an amortation of 30 years and an interest rate of 6%. The adjustment Interval is 1 year in year 2 the compasite interest rate is 7% a) What is the effective interest rate? b) What is the periodic payment for year 17 c) What is the outstanding balance at the end of year 17 d) What is the periodic payment for year 2? e) Briefly (max 2 sentences) explain any change in the periodic payments from part b) and part d) and any impact to the borrower. f) Briefly (max 2 sentences) explain what is a Hybrid loan (example 3/1)? For full marks, show inputs to your calculations and 1 sentence qualitative answer to the question.