Question: A 5 / 1 ARM is most likely to be a mortgage that: Question 8 Answer a . Has a variable rate for 5 years,

A 5/1 ARM is most likely to be a mortgage that:
Question 8Answer
a.
Has a variable rate for 5 years, after which the rate becomes fixed.
b.
Has a variable rate for 1 year, after which the rate is 5%.
c.
Has a fixed rate for 5 years, after which the rate becomes variable.
d.
Has a fixed rate for 1 year, after which the rate starts at 5% then begins to vary

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