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3 years ago

10

a bank advertises a 2/1 ARM at 5.15% with a 2/6 cap. what is the maximum interest rate that can be charged during the fifth year

?

1 answer:

NISA [10]3 years ago

7 0

5.15 + 2 is bigger than 6%

5.15 + 6=11.15% i would say is the max

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