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?

$396,038.65

$427,354.28

$407,836.29

$377,238.57

Question

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?

 $396,038.65

 $427,354.28

 $407,836.29

 $377,238.57

ttp · Answer

$396,038.65 A.

anonymous · Answer

may i ask how you got that answer?

anonymous · Answer

@ganeshie8  could i have your help please?