Izzy has obtained a 5/1 30-year ARM to purchase a $165,000 home. The fixed-interest rate is 4.75%, followed by a 5% rate with a 1.5% margin. What will her new monthly payment be after the initial fixed period ends?
A. $1019.37
B. $1417.34
C. $1104.70
D. $1207.98
