Advanced algebra help plz
1.
A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap.

What is the maximum interest rate that can be charged during the fifth year? (1 point)

3%
4.65%
9%
10.65%

2.
Aimee and Ben are purchasing a condominium and are financing $520,500. The mortgage is a 30-year 4/1 ARM at 2.25% with a cap structure of 1.5/9. What will their payments be for the first 4 years? (1 point)

$1,989.59
$2,410.52
$2,695.19
$4,188.06

3.
Kristi and Jason are purchasing a house and are financing $355,000. The mortgage is a 30-year

Question

Advanced algebra help plz
1.  
A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap.

What is the maximum interest rate that can be charged during the fifth year?  (1 point)

    3%
    4.65%
    9%
    10.65%

2.  
Aimee and Ben are purchasing a condominium and are financing $520,500. The mortgage is a 30-year 4/1 ARM at 2.25% with a cap structure of 1.5/9. What will their payments be for the first 4 years?  (1 point)

    $1,989.59
    $2,410.52
    $2,695.19
    $4,188.06

3.  
Kristi and Jason are purchasing a house and are financing $355,000. The mortgage is a 30-year

anonymous · Answer

Correct answers:
1) 10.65%
2) $1,989.59
3) (couldn't see the rest of the question)