• anonymous
Need help with these two questions as soon as possible! I am stuck ): Kristi and Jason are purchasing a house and are financing $355,000. The mortgage is a 30-year 6/2 ARM at 3.25% with a 3/6 cap structure. What will the remaining balance be after the first 6 years? Ben and Marge are purchasing a house with a 20-year, 5/1 ARM for $265,000 at 5.25% with a 3/12 cap structure. What will the difference in payments be from year 5 to year 6?
Economics - Financial Markets
  • Stacey Warren - Expert
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  • schrodinger
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