Question

Ben and Marge are purchasing a house with a 20-year, 5/1 ARM for $265,000 at 5.25% with a 3/12 cap structure. What will the difference in payments be from year 5 to year 6?

Answer 1

@zak92997

Answer 2

@Lena772

Answer 3

give me a few minutes it wake up and I find the answer for you

Answer 4

ok thanks

Answer 5

and this one please
Leah is purchasing a condominium and is financing $515,000 with a 20-year 5/1 ARM at 5.25% with a 1/12 cap structure. What will her payments be at the beginning of year 6?

Answer 6

ok so now that im awake so to speak i'll give a a site that will help http://www.bankrate.com/calculators/mortgages/adjustable-rate-mortgage-arm-calculator.aspx
sorry I cant give you the answer I got a surprise visit from the police say I need to stop because im helping people with answers to their homework

Answer 7

oh and that site will help with number 2 not number 1

Answer 8

okay thanks

Answer 9

#2 3701.45

Answer 10

Correct answer: $369.32