I Need SERIOUS Help NOW!!!! Will give medals**
Stella is purchasing a house and finances $240,650 of the purchase price. The mortgage is a 25-year 6/2 ARM at 5.5% with a 3/10 cap structure. What will the remaining balance be after the first six years?

A) $106,401.60
B) $134,248.40
C) $208,762.58
D) $218,847.88

Question

I Need SERIOUS Help NOW!!!! Will give medals**
Stella is purchasing a house and finances $240,650 of the purchase price. The mortgage is a 25-year 6/2 ARM at 5.5% with a 3/10 cap structure. What will the remaining balance be after the first six years?

A) $106,401.60
B) $134,248.40
C) $208,762.58
D) $218,847.88

anonymous · Answer

@annas @lilaj1242

jim_thompson5910 · Answer

Go here http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx and type in the given mortgage amount, time in years, and annual rate

nathalyn · Answer

http://www.bankrate.com/calculators/home-equity/compare-loans-calculator.aspx

jim_thompson5910 · Answer

click "show amortization schedule"

then scroll down to June 2021 (which is 6 years from now) and look in the last column to find the remaining balance

anonymous · Answer

Thank You so much!!! @jim_thompson5910 This is amazing and definitely helped me out!!! :D

jim_thompson5910 · Answer

no problem

jim_thompson5910 · Answer

I'm glad you find it handy as I do too