An interest-only ARM is made for $213,000 for 30 years. The start rate is 5 percent and the borrower will make monthly interest-only payments for three years. Payments thereafter must be sufficient to fully amortize the loan at maturity. Required: a. If the borrower makes interest-only payments for three years, what will the payments be? b. Assume that at the end of year 3, the reset rate is 6 percent. The borrower must now make payments so as to fully amortize the loan. What will the payments be? Complete this question by entering your answers in the tabs below. Required A Required B If the borrower makes interest-only payments for three years, what will the payments be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Interest only payments for the 1 year Required A Required B Assume that at the end of year 3, the reset rate is 6 percent. The borrower must now make payments so as to fully amortize the loan. What will the payments be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Payment