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anonymous
 one year ago
chris and justine are purchasing a townhouse and finance $112,900 with a 25year 6/3 ARM at 4.85% with a 2/12 cap structure. what will their payments be at the beginning of the seventh year assuming they are charged the maximum interest rate for that year?
A. 759.70
B. 557.09
C. 674.48
D. 650.17
P.S i need help on how to solve this and break it down into the formula
anonymous
 one year ago
chris and justine are purchasing a townhouse and finance $112,900 with a 25year 6/3 ARM at 4.85% with a 2/12 cap structure. what will their payments be at the beginning of the seventh year assuming they are charged the maximum interest rate for that year? A. 759.70 B. 557.09 C. 674.48 D. 650.17 P.S i need help on how to solve this and break it down into the formula

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