5. Marcos obtains a mortgage for $350,000 with the following terms:

30 year 4/1 ARM at 5.5% with a 2/6 cap structure

• Initial monthly payment: $1,987.26

What will be the balance of the loan at the end of the initial interest rate period?

$329,484.18

$254,611.45

$323,612.11

$320,806.22

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5. Marcos obtains a mortgage for $350,000 with the following terms:30 year 4/1 ARM at 5.5% with a 2/6 cap structure• Initial monthly payment: $1,987.26What will be the balance of the loan at the end of the initial interest rate period?$329,484.18$254,611.45$323,612.11$320,806.22

5. Marcos obtains a mortgage for $350,000 with the following terms:

30 year 4/1 ARM at 5.5% with a 2/6 cap structure

• Initial monthly payment: $1,987.26

What will be the balance of the loan at the end of the initial interest rate period?

$329,484.18

$254,611.45

$323,612.11

$320,806.22