Math
posted by Grace .
please check my answer thanks :)
Juan bought a home with an adjustablerate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2% over the life of the loan. If the current index rate is 4.3%, what isthe initial rate of the ARM ?
A. 7%
B 9.9%
C 14.32%
My answer is I said A
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