Problem 5-55 Teaser Rate Mortgage (LG5-9) A mortgage broker is offering a 25-year $180,900 mortgage with...

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Problem 5-55 Teaser Rate Mortgage (LG5-9) A mortgage broker isoffering a 25-year $180,900 mortgage with a teaser rate. In thefirst two years of the mortgage, the borrower makes monthlypayments on only a 3.7 percent APR interest rate. After the secondyear, the mortgage interest rate charged increases to 6.7 percentAPR. What are the monthly payments in the first two years? (Do notround intermediate calculations and round your final answer to 2decimal places.) What are the monthly payments after the secondyear? (Do not round intermediate calculations and round your finalanswer to 2 decimal places.)

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Problem 5-55 Teaser Rate Mortgage (LG5-9) A mortgage broker isoffering a 25-year $180,900 mortgage with a teaser rate. In thefirst two years of the mortgage, the borrower makes monthlypayments on only a 3.7 percent APR interest rate. After the secondyear, the mortgage interest rate charged increases to 6.7 percentAPR. What are the monthly payments in the first two years? (Do notround intermediate calculations and round your final answer to 2decimal places.) What are the monthly payments after the secondyear? (Do not round intermediate calculations and round your finalanswer to 2 decimal places.)