A bank advertises an adjustable rate mortgage with the following terms: 15 year 6/1 ARM at 5% with a 2/6 cap structure What are the maximum interest rates for the 7th year and for the life of the mortgage? a. 7th year: 6%; Lifetime: 6% b. 7th year: 6%; Lifetime: 11% c. 7th year: 7%; Lifetime: 11% d.7th year: 7%; Lifetime: 6%