You are considering a 5/1 arm. what does the 1 represent?
o
a. the interest rate of the initial fixed-rate loan period
o
b. the number of years between adjustments in the interest rate
o
c. the total number of years in the loan
d. the number of years that a fixed interest rate will be applied to the
loan
o

  B. The number of years between adjustments in the interest rate

Step-by-step explanation:

The "5" in "5/1" means there will not be any adjustment in interest rate for the first 5 years.

The "1" in "5/1" means interest rates may be adjusted at 1-year intervals after the initial 5-year period.

ans789

step-by-step explanation: