You bought a home with an adjustable-rate
You bought a home with an adjustable-rate mortgage. The margin on the loan is 5.4% and the rate cap is 6.25% over the life of the loan. If the current index rate is 7%, what is the calculated interest rate of the ARM?
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you bought a home with an adjustable-rate mortgage the margin on the loan is 54 and the rate cap is 625 over the life
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