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18 June, 21:04

A bank advertises a 2/1 ARM at 3.25% with a 2/10 cap.

What is the maximum interest rate that can be charged during the fifth year?

A 2%

B 3.25%

C 9.25%

D 10%

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Answers (2)
  1. 18 June, 21:07
    0
    Is B 3.25% I worked it out
  2. 18 June, 21:13
    0
    The answer is B 3.25%
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