1) Calculate the interest rate for each year based on the following information. The loan has a 1st year teaser rate of 1.5%, an index of 2.9%, 3.2%, 2.5%, 3.7%, 4.5% beginning in years 1-5, respectively. The loan also features a margin of 3%, a 2% annual cap and a 6.75% annual cap.

For the amortization schedule, a second step would to allow the spreadsheet to be able to adjust for the term. If you change the amortization period to 240 for months for example, you will see that you schedule shows that your payment goes to zero in month number 240 but the payments keep going and your balance goes negative. Therefore you want all your payments, interest, principal and balance to be blank after the term. You can do that by using the =if(current period>term,"", whatever). ?