A borrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 2% annual rate cap. On the reset date, the composite rate is 5%. What would the Year 3 monthly payment be? A) $955 B) $1,067 C) $1,071 D) $1,186 The answer is B I want to know the steps of solving please dont t use tables or excel just use formula