5 Problem 5-5 An interest-only ARM is made for $206,000 for 30 years. The start rate is 5 percent and the borrower will make monthly interest-only payments for three years. Payments thereafter must be sufficient to fully amortize the loan at maturity. Required: a. If the borrower makes interest-only payments for three years, what will the payments be? eBook b. Assume that at the end of year 3, the reset rate is 6 percent. The borrower must now make payments so as to fully amortize the loan. What will the payments be? 2.25 points t