You have obtained a 25-year adjustable rate mortgage at 589
Problem
You have obtained a 25-year adjustable rate mortgage at 5.89% with a principal of $452,205. The adjustment period is 4/1 with a 3/8 cap structure. What is the maximum interest rate for the life of the mortgage?
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problemyou have obtained a 25-year adjustable rate mortgage at 589 with a principal of 452205 the adjustment period is
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