Your ARM Has a Two Year Adjustment Interval,4% Margin,2% Periodic

question 73

Multiple Choice

Your ARM has a two year adjustment interval,4% margin,2% periodic rate cap and a 6% lifetime cap.This year the market interest index increased by 2.75%.What will happen to your APR on this loan?

• A)It will increase by 2%
• B)It will increase by 2.75%
• C)It will increase by 4%
• D)It will increase by 6%

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