Question

Izzy has obtained a 5/1 30-year ARM to purchase a $165,000 home. The fixed-interest rate is 4.75%, followed by a 5% rate with a 1.5% margin. What will her new monthly payment be after the initial fixed period ends?


A. $1019.37

B. $1417.34

C. $1104.70

D. $1207.98

Answer 1

Answer:

$1019.37.

Step-by-step explanation:

The people who previously put their answer on here was wrong. *shrug*

Answer 2

Answer:

A.

Step-by-step explanation:

$1019.37