Consider the following information and answer each of the questions below using arithmetic, algebra, and Excel functions as appropriate. Lary is considering an ARM loan offered by a local lender. The loan amount is $385,000. The term of the loan is 10 years. The index today is 1.1%. The margin on the loan is 3%. The teaser (first year only) is 1%. The E composite rate adjusts annually and is subject to annual and lifetime caps of 2% and 5%. The loan does not provide for negative amortization nor does it provide floors. Assume the following forecast of index rates. The prevailing rate in the s market for similar FRM loans is 5.25%. Make no changes to this Excel workbook other than entering information needed in the yellow and pink highlighted cells and your answer calculation in the green highlighted cells. Only the green 0 highlighted cells will be graded. Do not round intermediate caleulations (let Excel store all decimal values). Index Rate Composite 14 Year Forecast Rate 1.10% 2.25% 16 17 18 19 20 2. 2.50% 3.10% 4 4,00% 7.50% 21 5.50% 22 7. 7.50% 23 8. 8.00% 24 9. 4.10% 25 26 61 23 5. What is the payment in months 25 through 36? Loan Balance Loan Term (years) Payments per Year Composite Rate Payment 6. What is the balance at the EOY 3? Payment Composite Rate Loan Term (years) Payments per Year Balance 7. What is the payment in months 37 through 48? Loan Balance Loan Term (years) Payment Payments per Year Composite Rate I8. What is the balance at the EOY 4? e Payment S Composite Rate 4 Loan Term (years) 5 Payments per Year Balance