Question
FTLAPR (ARM). You have obtained a $225,000, 5.5%, fifteen-year ARM with 3 points. The current index is 3.5% and the margin is 2.5%. The initial
FTLAPR (ARM). You have obtained a $225,000, 5.5%, fifteen-year ARM with 3 points. The current index is 3.5% and the margin is 2.5%. The initial interest rate on this loan is 6%. What is the FTLAPR?
| 6.125% |
| 6.250% |
| 6.375% |
| 6.500% |
| 6.625% |
| 6.750% |
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
