Confusing Algebra Problem:

Brad and Angela are purchasing a house with a 15-year, 3/1 ARM for $185,000 at 4.15% with a
2/10 cap structure. What will the difference in payments be from year 3 to year 4?

Can you show me the answer and how to reach it?

Question

Confusing Algebra Problem:

Brad and Angela are purchasing a house with a 15-year, 3/1 ARM for $185,000 at 4.15% with a
2/10 cap structure. What will the difference in payments be from year 3 to year 4?

Can you show me the answer and how to reach it?

anonymous · Answer

http://ncalculators.com/loan/installment-loan-payoff-calculator.htm

anonymous · Answer

ok so you r going to add 2% TO 4.15 AND THEN PLUGG IT IN THE THE CALCULATOR THE WEBSITE I JUST GAVE YOU