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| rev | Admin | (Created page with "(Dick London 1.12) A 10 year adjustable rate mortgage loan of 23115 is being repaid exactly with quarterly installments of 1000 based on an initial interest rate of 12% compounded quarterly. Immediately after the 12th payment, the interest rate of 12% is increased to 14% compounded quarterly. The quarterly installments remain at 1000, so the term of the loan must be different. Calculate the loan balance immediately after the 24th payment. <ul class="mw-excansopts"><li...") | Nov 27'23 at 0:09 | +795 |