= Homework: Section 13.4 Assignment Question 9, 13.4.49 HW Score: 25%, 4 of 16 points Points: 0 of 1 Save James Kinchen has a 1 year ARM for $120,000 over a 30-year form. The margin is 2% and the index rate starts out at 2.1% and increases to 5,0% at the first adjustment. The balance of principal at the end of the first year is $118,446.76 The ARM includes a periodic rato cap of 2% per adjustment period. What Is the monthly payment adjustment at the end of the first year? that The monthly payment adjustment at the end of tho first year in s (Round the final answer to the noorent cont as needed. Round all intermediato value to the nearest cont as needed.) 18