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3. Graduated Payment Mortgage The loan is for $350,000 with terms 6.6%, 30 years. The graduation rate is 8% and occurs 3 times. Show the

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3. Graduated Payment Mortgage The loan is for $350,000 with terms 6.6%, 30 years. The graduation rate is 8% and occurs 3 times. Show the tables and labels when answering this question: 1. Calculate the Initial Monthly Payment (show Table): 2. Calculate the Monthly Payments and Loan Balances for years 1-4 by using a complete an Amortization Table for this period of time 3. Calculate the effective-interest cost of the loan given $1,800 in upfront lender fees and points (show all work)

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