Business, 18.12.2019 18:31 janellesteele9104
What is the principal portion of the 188th month’s payment for a $450,000 15/15 hybrid arm mortgage (first 15 years are fixed rate and second 15 years are adjustable – all payments are fully amortizing) with the following parameters:
fixed interest rate: 5.5%
1st year of arm portion - libor index: 1.85%
2nd year of arm portion - libor increase: 1.45%
margin: 275 basis points
annual periodic cap: 2%
lifetime cap: 5%
Answers: 1
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What is the principal portion of the 188th month’s payment for a $450,000 15/15 hybrid arm mortgage...
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