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GI Unit 15.4 Repayment variations and loan charges 25. You get a 30-year ARM at a rate of 4.75%. The rate is adjusted each year

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GI Unit 15.4 Repayment variations and loan charges 25. You get a 30-year ARM at a rate of 4.75%. The rate is adjusted each year to the 1-year T-bill rate plus 0.75%. The loan has a 1% annual cap. One year later the T-bill rte is 5.13%, what rate will you pay the second year

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