Bucky Barnes, is obtaining a $300,000 U.S. ARM paid monthly with an amortization of 30 years and an interest rate of 6%. The adjustment interval is 1 year. In year 2 the composite interest rate is 7% a) What is the effective interest rate? b) What is the periodic payment for year 1? c) What is the outstanding balance at the end of year 1? d) What is the periodic payment for year 2? e) Briefly (max 2 sentences) explain any change in the periodic payments from part b) and part d) and any impact to the borrower. f) Briefly (max 2 sentences) explain what is a Hybrid loan (example 3/1)? show inputs to your calculations