An ARM has the following characteristics at the outset: index value = 5%, margin = 2.75, teaser rate = 5.50%. The contract interest rate for
An ARM has the following characteristics at the outset: index value = 5%, margin = 2.75, teaser rate = 5.50%. The contract interest rate for the first year is:
A. cannot be determined
B. 7.75%
C. 5.50%
D. 5%
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Authors: George H. Pink, Paula H. Song
7th Edition
1640553177, 978-1640553170
