Finance
A mortgage with a 5/1 ARM structure means the interest rate is fixed for:
A5 months, then adjusts monthly
B5 years, then adjusts annually✓ Correct
C5 days, then adjusts daily
D5 payments, then adjusts weekly
Explanation
A 5/1 ARM has a fixed interest rate for the first 5 years, after which the rate adjusts once per year (annually) based on a market index plus the lender's margin.
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