Assume a $100,000 3/1 hybrid with a 30-yearmaturity and an initial rate of 6 percent.1. Calculate the payments for the first three years.2. If the ARM rate has risen to 6.5% at the end ofthree years, what would be the new p

- Assume a $100,000 3/1 hybrid with a 30-year maturity and an initial rate of 6 percent. 1. Calculate the payments for the first three years. 2. If the ARM rate has risen to 6.5% at the end of three years, what would be the new payment