a bank advertises a 3/2 ARM at 3.75% with a 3/9 cap what is the maximum interest rate that can be charged during the fourth year

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get our expert's

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions.

A community for students.

a bank advertises a 3/2 ARM at 3.75% with a 3/9 cap what is the maximum interest rate that can be charged during the fourth year

Mathematics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

I'm sorry, I'm not good in financial mathematics

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

bro
I'm in 7th
Unless you want a number in the millions
Ask me
Are you ready to spend time to understand the problem?
Since either you're busy, or you're not online, I will just leave you with reading, from which you can find your answer. http://www.quickenloans.com/blog/adjustable-rate-mortgage-terms-arm-knowledge 3/2 ARM means initial (period) period = 3 years, adjustment periods = 2 years 3/9 cap means periodic cap = +3%, overall cap (over life of mortgage) = +9%.
hi
i got 6.75 is that right?
Yes, that's correct.
thank you
You're welcome! :)

Not the answer you are looking for?

Search for more explanations.

Ask your own question