Mathematics, 03.02.2021 20:00 theyylovejay
A bank offers three mortgages shown. Which mortgage(s) will have fixed payments for at least the first 3 years?
Fixed rate mortgage at 5% for 30 years
Adjustable rate mortgage at 3% for 30 years with terms 3/1 and a cap of 2/5
Balloon mortgage at 4% with terms 30/5
a Fixed rate only
b Fixed rate and balloon only
c Fixed rate and adjustable rate only
d Fixed rate, adjustable rate, and balloon
Answers: 1
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A bank offers three mortgages shown. Which mortgage(s) will have fixed payments for at least the fir...
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