* Advance Algebra With Financial Applications *

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

* Advance Algebra With Financial Applications *

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

I need the formula

primeralph · Answer

@NaCl  I see your questions every time but it's sad that I can't help because I'm not familiar with this branch of math. Many people on here aren't either, so have you tried getting a good textbook or watching some online videos?

anonymous · Answer

No but I'm going to get a text book . My online lesson doesn't have video's only small example that doesnt help out alot  :c

anonymous · Answer

Correct answer: $308,679.17