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Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year 5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years? $396,038.65 $427,354.28 $407,836.29 $377,238.57

Mathematics
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what's the formula?
I think it's this
1 Attachment
can you tell what each letter mean?

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Other answers:

I don't know I mean...I tried the formula but it didn't work.
have you any model answers for similar question, i'm not familiar with financail applications
what's B, Bm, i, nt and m there?
nevermind I figured it out. I'm sorry XD
xD
what answer did you get, fenetre?
I now know that it isn't $396,038.65

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