The table shows the specifications of an adjustable rate mortgage (ARM). Assume no caps apply. Find a) the initial monthly payment; b) the monthly payment for the second adjustment and c) the change in monthly payment at the first adjustment. *The principal balance at the time of the first rate adjustment. Beginning Balance Term Initial index rate Margin Adjustment period Adjusted index rate *Adjusted balance $85,000 20 years 7.4% 2.6% 1 year 8.9% $83.593.45