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Q4: fill-in-the-blanks Fill in ALL 5 rate fields based on the YEARS MARGIN INDEX CAPS RATE COMMENTS information provided. Pay close attention START 29% 3.5% n/a 5.5 % The caps do not yet apply as the rate is being established. to the Index and Comments columns. 1-5 296 n/a n/a 5.5 % Rate remains fixed for the first 5 years Include decimal point with your 296 6 29% 5% ?.? 9% Index increases from 3.5% to 5% answers. Ex. 5.0 Incorrect P.? % The index rate drops from 5% to 3.59% Use the cap information to get what the fully indexed rate shoHint: first increase is 1.5% and each Index increases from 3% to 5% (R=1+M). subsequent adjustment is 1% up/down. Just add the % increase/decrease to previous rate. % Index increases from 5% to 7% Background information: ?.? Try Again penndick Index jumps from 79% to 12% . 5/1 ARM Rates will vary remainder of loan, They . 2/1/5 cap 11-15 Varies Comment nia will be no higher than 8.5% + 2%% = 10.5% and no lower than the 2% margin. 15 year loan SUBMIT NEXT X HELP