You are considering a 5/1 ARM. What does the 1 represent?
2 answers:
Answer:
B. The number of years between adjustments in the interest rate
Step-by-step explanation:
The "5" in "5/1" means there will not be any adjustment in interest rate for the first 5 years.
The "1" in "5/1" means interest rates may be adjusted at 1-year intervals after the initial 5-year period.
Answer: The number of years between adjustments in the interest rate
Step-by-step explanation:
APEX
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