Aimee and Ben are purchasing a condominium and are financing $520,500. The mortgage is a 30-year 4/1 ARM at 2.25% with a cap structure of 1.5/9. What will their payments be for the first 4 years?
1) $1,989.59
2) $2,410.52
3) $2,695.19
4) $4,188.06