anonymous
  • anonymous
PLEASE HLP URGETN!! Leah is purchasing a condominium and is financing $515,000 with a 20-year 5/1 ARM at 5.25% with a 1/12 cap structure. What will her payments be at the beginning of year 6?
Mathematics
chestercat
  • chestercat
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jim_thompson5910
  • jim_thompson5910
check out this handy ARM calculator http://www.bankrate.com/calculators/mortgages/adjustable-rate-mortgage-arm-calculator.aspx
anonymous
  • anonymous
Correct answer: $3701.45

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