What is the mortgage payment that you will make each month, Finance Basics

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What is the mortgage payment that you will make each month

Your broker has just called to inform you that your offer on a lovely new studio apartment in Gramercy Park has been accepted. You will finance 80% of the $560,000 purchase price with a 3/1 ARM with an initial rate of 3.75%. What is the mortgage payment that you will make each month for the first three years of the loan?

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Finance Basics: What is the mortgage payment that you will make each month

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