The following problem involves adjustable-rate mortgage. You the given table if necessary.
Harry has a 1-year ARM for $85,000 over a 30-year term. The margin is 2%, and the index rate starts out at 5.5% and increases to 8% at the first adjustment. The balance of principal at the end of the first year is
Find the amount of monthly payment for the first month of the first year.
A. $718.14
B. $689.42
C. $594.33
D. None of the above is correct.
Answer: C
Mathematics
You might also like to view...
Simplify the complex rational expression.
A.
B.
C.
D. 18x4
Mathematics
Solve the problem.If h(x) = x2 + 5x - 14 , solve h(x) > 0.
A. (2, ?) B. (-?, -7) or (2, ?) C. (-7, 2) D. (-?, -7)
Mathematics
Simplify.(3x2)3(2x)-1
A. 6x5
B.
C.
D. 6x4
Mathematics
Solve the problem.The Little Town Arts Center charges $24 for adults, $14 for senior citizens, and $5 for children under 12 for their live performances on Sunday afternoon. This past Sunday, the paid revenue was for 675 tickets sold. There were 46 more children than adults. How many children attended?
A. 237 children B. 227 children C. 247 children D. 201 children
Mathematics