Wendy is purchasing a condominium and is financing $595,000 with a 20-year 6/1 ARM at 5.65% with a 1/8 cap structure. What will her payments be at the beginning of year 7? (3 points)

A.$4400.65

B.$4143.50

C.$3623.48

D.$3344.70

B. $4143.50

Step-by-step explanation:

Wendy has purchased condominium and is financing it through the loan. The loan term is for 8 years with an interest rate of 5.65%. The payment at the start of the year 1 is $595,000 * 5.65% = $3344.70. The loan term reached maturity so the payment will increase to 4143.50

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500