Adjustable Rate Mortgage. Consider a 15 year 2/1 ARM for $320,000.00. The initial interest rate 7.15%, there is a 1% adjustment cap and a 5% lifetime adjustment cap on the loan. (a) what are your initial payments per month? (b) supposing the rate is raised as far as possible, what would your monthly payment be in year 3? (c) re-answer part (b) but suppose the rate is lowered as much as possible; (d) What would your monthly payments be in year 4 assuming rates were raised as much as possible every time? (e) re-answer part (d) but assume rates were lowered as much as possible