(12 points) You are interested in a $280,000 adjustable rate mortgage (ARM) with a 30-year term. For the first 5 years, the interest rates 3.5% for the first two years and 4% for the next two years and 4.5% for the last year. After the fifth year, the interest rate is set to be index to the US treasury bill. (10 points) Complete the following table for the ARM mortgage. Loan Balance End of Year Interest Rate (%) Periods Monthly Payment (N) ($) 1 3.5 2 3.5 3 3 4 4 4 5 4.5 (2 points) You are also considering a $280,000 fixed-rate level payment mortgage (LPM) with a 30-year term and a 4.25% contract interest rate. At the end of 5 years, which mortgage has a larger balance? (Hint: You need to compute the monthly payments first)