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grandymaker [24]
3 years ago
8

Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year

Business
1 answer:
nalin [4]3 years ago
5 0

Answer:

D

Explanation:

The remaining balance on a 20-year 5/1 ARM at 3.5% interest with a 2/7 cap structure after 5 years will be $377,238.57.

Pro life tip: Do NOT finance your home with an ARM mortgage.

Good luck in your studies!

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