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:
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Answer:
<em>A ≈ 28.5</em>
Step-by-step explanation:
a, b, c
P = a + b + c
Semiperimeter s =
A =
~~~~~~~~~~~~~~~
= 4.3 + 2.89 + 6.81 = 14
s = 14 ÷ 2 = 7
=
= √14.75901 ≈ 3.84
= 8.59 + 7.58 + 6.81 = 22.98
s = 22.98 ÷ 2 = 11.49
=
= √609.7343148 ≈ 24.6928
= 3.84 + 24.6928 ≈ <em>28.5</em>