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Given the following adjustable-rate mortgage information: 1 Year Teaser Rate: 5.50% Margin: 3.00% Annual Cap: 1.5% (applies to teaser) Lifetime Cap: 4.00% (applies to teaser)

Given the following adjustable-rate mortgage information: 1 Year Teaser Rate: 5.50% Margin: 3.00% Annual Cap: 1.5% (applies to teaser) Lifetime Cap: 4.00% (applies to teaser) Index: Yr 1: 4.25%, Yr 2: 4.75%, Yr 3: 5.50%, Yr 4: 6.0% What will the interest rate be in year four

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