B 1
Subject:FinancePrice: Bought3
B 1.
An ARM contract with 2/1 interest rate caps and a 2.00 margin is $100,000 monthly payments for 30 years. The contract rates for the first two years are 5.00% and 5.50%, respectively. At the end of year two index value is 4.00%, What is the payment of the loan in year three?
