Mathematics, 12.03.2021 23:50 orangeicecream

Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year 5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years?

a $396,038.65
b $427,354.28
c $407,836.29
d $377,238.57

Answers: 3

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Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year 5/1 ARM...