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4 April, 12:55

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%

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Answers (2)
  1. 4 April, 15:37
    0
    The answer is B 3.25%
  2. 4 April, 15:48
    0
    Is B 3.25% I worked it out
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