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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
النسخة 7الرقم المعياري الدولي: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
النسخة 7الرقم المعياري الدولي: 978-1285448596 تمرين 22
Dale Evans bought the Lazy D Ranch with an adjustable-rate mortgage. The lender's margin on the loan is 3.9%, and the overall rate cap is 6% over the life of the loan.
a. If the current index rate is 4.45%, what is the calculated interest rate of the ARM?
b. What is the maximum overall rate of Dale's loan?
a. If the current index rate is 4.45%, what is the calculated interest rate of the ARM?
b. What is the maximum overall rate of Dale's loan?
التوضيح
موثّق
موثّق
Consider the lender's margin on the loan...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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