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OpenStudy (anonymous):
Please help!! 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?
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OpenStudy (amistre64):
its the same balance as if this was just a fixed 20 year mortgage at 3.5%
OpenStudy (amistre64):
OpenStudy (anonymous):
I don't understand these are the answer choices. $396,038.65 $427,354.28 $407,836.29 $377,238.57
OpenStudy (amistre64):
what dont you understand about the file i attached?
OpenStudy (anonymous):
So it's D?
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