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You currently have an ARM that is charging you 7% with an index rate of 4%, a margin of 3%, and a periodic annual cap

You currently have an ARM that is charging you 7% with an index rate of 4%, a margin of 3%, and a periodic annual cap of 3.0%. Assume that index rates have now increased by 5% during the last seven months. What rate will your ARM be adjusted to?

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