3.6 pts Question 8 An ARM an, Loan Amount - $250,000; Monthly Payments, Index - 1-Year Treasury bill. Index at the end of year 1 is 7%. Index at the end of year 2 is 6.5%. Index at the end of year 3 is 8.0%. One Year Adjustable, Margin - 1.50%, Term - 30 years, Interest Rate Caps: annual 2% and life 5.5%, Teaser Rate - 5%. The loan has negative amortization. Loan balance in year 2 3232.522.29 $253.900 $247 424 $228,483 Previous Next > 3.6 pts Question 8 An ARM an, Loan Amount - $250,000; Monthly Payments, Index - 1-Year Treasury bill. Index at the end of year 1 is 7%. Index at the end of year 2 is 6.5%. Index at the end of year 3 is 8.0%. One Year Adjustable, Margin - 1.50%, Term - 30 years, Interest Rate Caps: annual 2% and life 5.5%, Teaser Rate - 5%. The loan has negative amortization. Loan balance in year 2 3232.522.29 $253.900 $247 424 $228,483 Previous Next >