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calculate the monthly mortgage payment for each of following 5 periods below based on a $3,230,000 adjustable loan /30 year amortization schedule/ with the 5
calculate the monthly mortgage payment for each of following 5 periods below based on a $3,230,000 adjustable loan /30 year amortization schedule/ with the 5 reset periods as per the provided interest rate schedule: Year 1-5: 8.25% APR Year 6-10: 8.4% APR Y ear 11-16: 8.85% APR Year 17-23: 9.6% APR Year 24-30: 10.2% APR lease compute how much the payment would be for each of the 5 reset periods. Please consider that the principal balance will decrease over time and for each period. the previous answers did not account for the decreasing principal as the loan gets pad down, When the payments are made for years 1-5 for instance the principal balance will be lower going into the years 6-10 period and so on. Kindly calculate and provide the 5 payments at the reset rates above accounting for the lowered principal balance for each period. in excel if possible if not please give the 5 payment amounts and work
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