can you explain using a financial calculator

can you explain using a financial calculator

Franco obtained a 30-year $100,000 floating rate mortgage with annual rate adjustments. The initial interest rate is 12%. However, because of Franco's personal income, he and the lender negotiated and agreed to a $800 monthly mortgage loan payment. (You may use your financial calculator for these questions, but show your key stroke inputs.) 5. Despite Franco's agreement with the lender, what should the monthly mortgage loan payment be for the first year? Given the agreed upon monthly payment of $800, what will the mortgage loan balance be after five years if this were a fixed rate mortgage? After 30 years? 6. Assume that the all-in interest rate increase to 13% at the beginning of year 2. How much interest will be accrued (negative amortization) to the mortgage loan principal balance in the first year if the monthly mortgage loan payment remains at $800? Franco obtained a 30-year $100,000 floating rate mortgage with annual rate adjustments. The initial interest rate is 12%. However, because of Franco's personal income, he and the lender negotiated and agreed to a $800 monthly mortgage loan payment. (You may use your financial calculator for these questions, but show your key stroke inputs.) 5. Despite Franco's agreement with the lender, what should the monthly mortgage loan payment be for the first year? Given the agreed upon monthly payment of $800, what will the mortgage loan balance be after five years if this were a fixed rate mortgage? After 30 years? 6. Assume that the all-in interest rate increase to 13% at the beginning of year 2. How much interest will be accrued (negative amortization) to the mortgage loan principal balance in the first year if the monthly mortgage loan payment remains at $800