Assume a $60,000 loan with a 30-year term and an 3% initial interest rate and 2 discount points where the ARM interest rate will be adjusted annually based on the index of one-year U.S. Treasury securities plus a 2 percent margin with no payment or interest caps or negative amortization. If the index is expected to be 2, 3, 4, and 2 percent for the next four years, what would be the payment adjustments and loan balances each year

Can you please explain every steps and do it in in Financial calculator.