Kristi and Jason are purchasing a house and are financing $355,000. The mortgage is a 30-year
6/2 ARM at 3.25% with a 3/6 cap structure. What will the remaining balance be after the first 6 years?

$317,038.99

$286,556.77

$308,679.17

$331,347.21

Question

Kristi and Jason are purchasing a house and are financing $355,000. The mortgage is a 30-year 
6/2 ARM at 3.25% with a 3/6 cap structure. What will the remaining balance be after the first 6 years?

 $317,038.99

 $286,556.77

 $308,679.17

 $331,347.21

anonymous · Answer

wow, it's been a long while since i've done an economics class, let me see if i can solve this problem for you.

anonymous · Answer

okay, so i'm not positive since i haven't done a class like this in a while and didn't lear much about ARM loans, but i believe that it's A). 317,038.99