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TheJag18:
(Mortgage Loans LC) A bank advertises a 3/1 ARM at 3.15% with a 3/9 cap. What is the maximum interest rate that can be charged during the fifth year? 12.15% 3.15% 9.15% 9.45%
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Phantomdex:
The maximum interest rate that can be charged during the fifth year is 9.15%.
Phantomdex:
B is too small and A is too big
TheJag18:
awsome. thank you
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