[Solved] You bought a home with an adjustable-rate

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You bought a home with an adjustable-rate mortgage. The margin on the loan is 5.4% and the rate cap is 6.25% over the life of

You bought a home with an adjustable-rate mortgage. The margin on the loan is 5.4% and the rate cap is 6.25% over the life of the loan. If the current index rate is 7%, what is the calculated interest rate of the ARM?

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