9. A variable-rate mortgage has a 5/1 cap (i.e. the rate cannot increase more than 1% per year and 5% over the life of the mortgage). What will the mortgage rate be after three years if the initial rate is 5% and interest rates increase by 2% in each of the first three years of the contract? ____ A) 7% B) 8% C) 9% D) 10%