Fiona is purchasing a condominium and is financing $305,000 with a 30-year 5/1 ARM at 4.65% with a 1/12 cap structure. What will her payments be at the beginning of year 6?

Question

$1436.86

$1572.69

$1608.51

$1736.26

I think its $1572.69 just want to know if I'm right?

Answer 1

Thx