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28 January, 02:17

A bank advertises a 2/1 ARM at 5.15% with a 2/6 cap. what is the maximum interest rate that can be charged during the fifth year?

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  1. 28 January, 04:54
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    5.15 + 2 is bigger than 6%

    5.15 + 6=11.15% i would say is the max
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