Your Mortgage Is an ARM with a 1 Year Adjustment

question 39

Multiple Choice

Your mortgage is an ARM with a 1 year adjustment interval,4% margin,and a 2% periodic cap.Your initial APR on this loan was 4.5%.Over the last 5 years the market rates of interest have risen dramatically.The current interest rate index for your loan is 8.5 %.What APR are your monthly payments being calculated on today?

• A)4.5%
• B)8.5%
• C)10.5%
• D)12.5%

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Definitions:

Sex Differences

Variations in characteristics, behaviors, or conditions between males and females, often influenced by biological, psychological, or social factors.

Flexibility

The ability of a joint or series of joints to move through an unrestricted, pain-free range of motion.

Stretching

The process of gently elongating muscles and tendons to improve flexibility, range of motion, and reduce the risk of injury.

Development Of Flexibility

The process of increasing the range of motion of muscles and joints through various exercises and stretching routines.