Steven has obtained a $105,000 5/1 30-year ARM at 5%. During the first ...
Steven has obtained a $105,000 5/1 30-year ARM at 5%. During the first 3 years, he has an option of paying interest only. If he were to accept this offer,
what would his initial payment be?
O A. $437.50
O B. $756.92
O C. $563.66
D. $587.50​