Question: explain and work it out with formula Assuming that you are planning to borrow money from a bank to buy a house. The lender offers

explain and work it out with formula Assuming that you are planning to borrow money from a bank to buy a house. The lender offers to you the following: a 30 -year FRM at \( 6.95 \% \) and a 5 -year ARM at \( 5.65 \% \). Which one will yo 2 answers

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