Karla and Juan are purchasing a house and are financing $590,000. The mortgage is a 20-year
6/1 ARM at 3.75% with a 3/8 cap structure. What will the remaining balance be after the first 6 years?

Question

Karla and Juan are purchasing a house and are financing $590,000. The mortgage is a 20-year
6/1 ARM at 3.75% with a 3/8 cap structure. What will the remaining balance be after the first 6 years?

anonymous · Answer

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ganeshie8 · Answer

use remaining balance formula ?

ganeshie8 · Answer

look up your lesson pages and if psble please attach the screenshot of formula

anonymous · Answer

I was sick on the day this was taught. We leave our books at school.. :(

anonymous · Answer

Nevermind, I got it.

fallenangelorchid · Answer

Good job lad.

anonymous · Answer

Thanks, lad.