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01-06-2023
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A borrower takes out a 5/1 Hybrid ARM for $300,000with an initial contract interest rate of 4. 50%. The interest rate will adjust according to the 1 yr LIBOR rate, plus a margin of 2%reset date, 1 yr LIBOR is at 1%. What will the borrowersâ€™ monthly payment be immediately after the first reset?

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