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Earn +20 ptsQ: What is Interest rate on mortgage?
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How is your ARM rate determined?
The Adjustable-rate mortgage(ARM) rate is determined by interest rate, adjustment period, index rate, the margin,discount, prepayment, and many other factors.
What might one point out when obtaining a mortagage?
One might want to point out the interest rate on the mortgage, if there are any 'points' to be paid and how this will affect said mortgage, and whether the annual percentage rate is fixed or a variable.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
What is the corresponding componding?
Corresponding compounding is the interest rate on loan or the financial product restated from nominal interest rate as an interest rate with an annual compound interest.
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