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Interest rates increase again from 2.5% to 3.25%. Which one is not correct

Sagot :

24003989

Answer:

An adjustable-rate mortgage has an initial rate of 5%; the margin is 2.5%. ... At the first rate adjustment, the index increases to 3.25%. ... D. Over the term of the loan, the interest rate may not rise higher than 16% ... In general, the APR is considered to be accurate if it is not more than one eighth of one percentage point ...

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