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On an adjustable-rate mortgage (ARM), the percentage points that a lender adds to the index rate to determine the rate of interest is called the: O payment cap interest rate cap O margin O anchor O residual value
On an adjustable-rate mortgage (ARM), the percentage points that a lender adds to the index rate to determine the rate of interest is called the: O payment cap interest rate cap O margin O anchor O residual value
Expert Solution
rate positively .
correct answer is option = margin
Margin is the percentage points a lender adds to the index rate to determine the rate of interest.
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