A borrower has a 5/1 ARM tied to the 1-Year London Interbank Offering Rate (LIBOR). The borrower's current rate (after several adjustments) is 6%. It's the time of year when the rate adjusts again and the LIBOR is currently at 6%. What will be the borrower's new interest rate if the loan has the following terms? Introductory interest rate: 3.00%; Margin: 2.25%; and Periodic cap/floor: +/- 2%. (There is no lifetime cap.) (Input your answer as a percentage rounded to the nearest tenth and without the % sign, e.g., 12.5% is input as 12.5 not 0.125) A borrower has a 5/1 ARM tied to the 1-Year London Interbank Offering Rate (LIBOR). The borrower's current rate (after several adjustments) is 6%. It's the time of year when the rate adjusts again and the LIBOR is currently at 6%. What will be the borrower's new interest rate if the loan has the following terms? Introductory interest rate: 3.00%; Margin: 2.25%; and Periodic cap/floor: +/- 2%. (There is no lifetime cap.) (Input your answer as a percentage rounded to the nearest tenth and without the % sign, e.g., 12.5% is input as 12.5 not 0.125)