FIN 3710 .edu

7. What is the APR for the following 30-year 5/1 ARM mortgage (4 points)? i. Intro rate of 4.75%; ii. 2% of loan balance for fees and discount points; iii. Market index of 1.5% at closing; iv. Margin of 2.50%; Initial adjustment and life time interest cap of 5.0 %, and annual interest cap of 2.0% Fees and points amount to 2% of loan balance. ................
................

In order to avoid copyright disputes, this page is only a partial summary.