What is the purpose of the adjustment period in a loan?

Loan Adjustments and Calculator Functions

Interactive Video
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Mathematics
•
9th - 10th Grade
•
Hard

Thomas White
FREE Resource
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To decrease the loan term
To adjust the interest rate and payments
To increase the loan amount
To change the loan type
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the new interest rate determined?
By dividing the index rate by the margin
By subtracting the margin from the index rate
By adding the index rate and margin
By multiplying the index rate by the margin
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the index rate used in the calculation?
2.3%
11.5%
15%
99.2%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the margin added to the index rate?
1.5%
3.5%
4.2%
2.3%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many years are left on the loan after the first year?
21 years
20 years
19 years
18 years
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the new principal amount after the first adjustment?
835934.72
83593472
8359347.2
83593.472
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in using the calculator for the denominator?
Multiply 12 by 19
Add 12 to 12115
Subtract 12 from 12115
Divide 12 by 12115
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