28) A 30-year 1/1 ARM has an initial rate of 3.85%. In the future, the rate will reset to 225 basis points above the LIBOR index with no rate caps or floors. In 1 year, at the time of the first reset, the LIBOR is 1%. What interest rate will be used to compute payments at the first reset? Write your answers as a percent rounded to two decimal points without any signs (e.g. if you get 4.5699%, write 4.57)