19. A basic ARM is made for $200,000 at an initial contract rate of 6 percent for 30 years with an annual reset date. The borrower believes that the contract rate at the beginning of year (BOY) 2 will increase to 7 percent. a) Assuming that a fully amortizing loan is made, what will monthly payments be during year 1? b) Based on part (a) what will be the loan balance be at the end of (EOY) 1? c) Given that the interest rate is expected to be 7 percent at the beginning of year 2, what will monthly payments be during year 2? d) What will be the loan balance at the EOY 2