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Question A borrower is considering a one-year ARM with a note rate of 5.75%, 2/6 caps and a margin of 2.75%. What would be the

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Question A borrower is considering a one-year ARM with a note rate of 5.75%, 2/6 caps and a margin of 2.75%. What would be the borrower's interest rate be for year two if the index is at 5.75%? Choices: 8.49% 7.75% 8.50% 6.75%

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