@ribhu

/adynn obtains a 30-year 7/3 ARM at 6% with a 3/6 cap structure in the amount of $436,500. What is the monthly payment during the initial period?
A. $2,812.38
B. $1,212.50
C. $2,904.05
D. $2,617.04

Question

@ribhu 

/adynn obtains a 30-year 7/3 ARM at 6% with a 3/6 cap structure in the amount of $436,500. What is the monthly payment during the initial period?
A. $2,812.38
B. $1,212.50
C. $2,904.05
D. $2,617.04

ribhu · Answer

its D for sure just have to use the formula

ribhu · Answer

http://www.wolframalpha.com/input/?i=436%2C500+%5Ctimes+%5Cfrac%7B%5Cfrac%7B0.06%7D%7B12%7D+%28+1+%2B+%5Cfrac%7B0.06%7D%7B12%7D%29%5E%7B12%5Ctimes+30%7D%7D%7B%28+1+%2B+%5Cfrac%7B0.06%7D%7B12%7D%29%5E%7B12%5Ctimes+30%7D-1%7D+++