D Question 8 1 pts Given the following Adjustable Rate Mortgage (ARM); Loan amount: $100.000 Term: 20 years, monthly payment Discount point: 0 Origination fee $8.000 Teaser rate: 7.5% Margin: 225 basis points Rate Caps 2.5% annually. 6% lifetime Market Index EOY 1 2 3 Index 3.6% 9.5% 10.5% 4 5 11.5% 10.5% What is the monthly payment of the 2nd year? 1007.36 959.25 B05 59 897.25 Question 9 1 Given the following Adjustable Rate Mortgage (ARM): Loan amount: $100,000 Term: 20 years, monthly payment Discount point: 0 Origination fee: $8,000 Teaser rate: 7.5% Margin: 225 basis points Rate caps: 2.5% annually. 6% lifetime Market Index: EOY 1 2 3 8.6% 9.5% 10.5% 11.5% 10.5% Index What is the effective cost of this loan if you pay it off at the end of year 2? 10.33% 12.0596 13 325 8.685 1 pts