A $20-$year $2/1$ ARM uses the SOFR as the index and charges a margin of $1\mathrm{.}5\%.$

There are no rate caps.

The SOFR rate

equals $2\%$ at loan origination;

equals $2\mathrm{.}25\%$ at the end of the first year;

equals $2\mathrm{.}5\%$ at the end of the second year;

equals $2\mathrm{.}75\%$ at the end of the third year;

equals $2\mathrm{.}15\%$ at the end of the fourth year;

equals $2\mathrm{.}35\%$ at the end of the fifth year.

The accrued interest rate used to calculate the $34$th monthly payment equals $\%$