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calculate the monthly mortgage payments for each of following 5 reset periods for a $3,230,000 loan 30 year amortization schedule with the 5 reset periods
calculate the monthly mortgage payments for each of following 5 reset periods for a $3,230,000 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 Year 11-16: 8.85% APR Year 17-23: 9.6% APR Year 24-30: 10.2% APR
Please provide the payment amount for the 5 reset periods considering that the loan principal will be reduced as the loan progresses yielding a different (lower) principal balance for each reset period.
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