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A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap. What is the maximum interest rate that can be charged during the fifth

A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap. What is the maximum interest rate that can be charged during the fifth year? 3% 4.65% 9% 10.65% Kristi and Jason are purchasing a house and are f...

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