8. Stewart is considering an ARM with the following characteristics: Mortgage Amount = $200,000, Index Yield for Year 1 = 4%, Margin = 2.5%, Annual Cap 2%, Lifetime Cap = 6%, Loan Maturity = 30 years, Inflation for the next year is 1.5% and the Teaser Rate is 4%. What is the balance at the end of year three? (Fill out the chart for full credit) (14 points) Year PV Index Margin CR PR Maturity Payment Balance 8. Stewart is considering an ARM with the following characteristics: Mortgage Amount = $200,000, Index Yield for Year 1 = 4%, Margin = 2.5%, Annual Cap 2%, Lifetime Cap = 6%, Loan Maturity = 30 years, Inflation for the next year is 1.5% and the Teaser Rate is 4%. What is the balance at the end of year three? (Fill out the chart for full credit) (14 points) Year PV Index Margin CR PR Maturity Payment Balance