A bank advertises a 2/1 ARM at 3.25% with a 2/10 cap.
What is the maximum interest rate that can be charged during the fifth year?
A 2%
B 3.25%
C 9.25%
D 10%
+4
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A bank advertises a 2/1 ARM at 3.25% with a 2/10 cap. What is the maximum interest rate that can be charged during the fifth year? A 2% B ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Home » Mathematics » A bank advertises a 2/1 ARM at 3.25% with a 2/10 cap. What is the maximum interest rate that can be charged during the fifth year? A 2% B 3.25% C 9.25% D 10%