Excel Project \#6 - Construction Loan Draw/Amortization Schedule loan and converts to a fully amortizing loan at the beginning of the fourth year. 1) What is the Maximum Loan Amount rounded up to the nearest $100,000 ? 2) In what years does the interest rate cap effect the payment schedule? 3) What is the total amount of capialized interest accrued during the construction period? 4) What is the total payoff amount of the loan after the 60th monthly payment? \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & & & & & & & & & & & & & & \\ \hline Loan Details: & & & & & Current & 0.400% & & & & & & & & \\ \hline Project Cost & $20,000,000.00 & & & & 2 & 0.750% & & & & & & & & \\ \hline Maximum Loan Amount & & & & & 3 & 1.500% & & & & & & & & \\ \hline Reset Period & 1 & Year & & & 4 & 2.500% & & & & & & & & \\ \hline Initial Rate & 2.500% & & & & 5 & 4.500% & & & & & & & & \\ \hline Amortization & 36 & \multicolumn{2}{|c|}{ Months Interest Only } & & & & & & & & & & & \\ \hline Amortization & Negative & \multicolumn{3}{|c|}{ During the construction period only } & & & & & & & & & & \\ \hline Amortization & 30 & \multicolumn{2}{|c|}{ Years once fully funded } & & & & & & & & & & & \\ \hline Term & 5 & Years & & & & & & & & & & & & \\ \hline Interest Rate Cap & 1.000% & & & & & & & & & & & & & \\ \hline Index & 1 year LIBOR & & & & & & & & & & & & & \\ \hline Margin & 3.500% & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & & \\ \hline \multirow[t]{12}{*}{ Draw Schedule } & & Month & \begin{tabular}{l} Initial Draw \\ Percentage \end{tabular} & Initial Draw & \begin{tabular}{l} Beginning Period \\ Loan Balance \end{tabular} & Interest Rate & \begin{tabular}{c} Capped Interest \\ Rate \end{tabular} & Payment & \begin{tabular}{c} Capitalized \\ Payment \end{tabular} & \begin{tabular}{c} Interest \\ Payment \end{tabular} & \begin{tabular}{l} Principal \\ Payment \end{tabular} & \begin{tabular}{l} Expected Draw \\ Percentage \end{tabular} & End of Month Draw & \begin{tabular}{c} Ending Period Loan \\ Balance \end{tabular} \\ \hline & Initial Draw & 1 & 15.00% & & & & & & & & & 0.50% & & \\ \hline & 2,000,000 & 2 & & & & & & & & & & 0.50% & & \\ \hline & & 3 & & & & & & & & & & 0.50% & & \\ \hline & & 4 & & & & & & & & & & 1.00% & & \\ \hline & & 5 & & & & & & & & & & 1.00% & & \\ \hline & & 6 & & & & & & & & & & 1.00% & & \\ \hline & & 7 & & & & & & & & & & 1.50% & & \\ \hline & & 8 & & & & & & & & & & 1.50% & & \\ \hline & & 9 & & & & & & & & & & 1.50% & & \\ \hline & & 10 & & & & & & & & & & 3.00% & & \\ \hline & & 11 & & & & & & & & & & 3.00% & & \\ \hline \end{tabular} Excel Project \#6 - Construction Loan Draw/Amortization Schedule loan and converts to a fully amortizing loan at the beginning of the fourth year. 1) What is the Maximum Loan Amount rounded up to the nearest $100,000 ? 2) In what years does the interest rate cap effect the payment schedule? 3) What is the total amount of capialized interest accrued during the construction period? 4) What is the total payoff amount of the loan after the 60th monthly payment? \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & & & & & & & & & & & & & & \\ \hline Loan Details: & & & & & Current & 0.400% & & & & & & & & \\ \hline Project Cost & $20,000,000.00 & & & & 2 & 0.750% & & & & & & & & \\ \hline Maximum Loan Amount & & & & & 3 & 1.500% & & & & & & & & \\ \hline Reset Period & 1 & Year & & & 4 & 2.500% & & & & & & & & \\ \hline Initial Rate & 2.500% & & & & 5 & 4.500% & & & & & & & & \\ \hline Amortization & 36 & \multicolumn{2}{|c|}{ Months Interest Only } & & & & & & & & & & & \\ \hline Amortization & Negative & \multicolumn{3}{|c|}{ During the construction period only } & & & & & & & & & & \\ \hline Amortization & 30 & \multicolumn{2}{|c|}{ Years once fully funded } & & & & & & & & & & & \\ \hline Term & 5 & Years & & & & & & & & & & & & \\ \hline Interest Rate Cap & 1.000% & & & & & & & & & & & & & \\ \hline Index & 1 year LIBOR & & & & & & & & & & & & & \\ \hline Margin & 3.500% & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & & \\ \hline \multirow[t]{12}{*}{ Draw Schedule } & & Month & \begin{tabular}{l} Initial Draw \\ Percentage \end{tabular} & Initial Draw & \begin{tabular}{l} Beginning Period \\ Loan Balance \end{tabular} & Interest Rate & \begin{tabular}{c} Capped Interest \\ Rate \end{tabular} & Payment & \begin{tabular}{c} Capitalized \\ Payment \end{tabular} & \begin{tabular}{c} Interest \\ Payment \end{tabular} & \begin{tabular}{l} Principal \\ Payment \end{tabular} & \begin{tabular}{l} Expected Draw \\ Percentage \end{tabular} & End of Month Draw & \begin{tabular}{c} Ending Period Loan \\ Balance \end{tabular} \\ \hline & Initial Draw & 1 & 15.00% & & & & & & & & & 0.50% & & \\ \hline & 2,000,000 & 2 & & & & & & & & & & 0.50% & & \\ \hline & & 3 & & & & & & & & & & 0.50% & & \\ \hline & & 4 & & & & & & & & & & 1.00% & & \\ \hline & & 5 & & & & & & & & & & 1.00% & & \\ \hline & & 6 & & & & & & & & & & 1.00% & & \\ \hline & & 7 & & & & & & & & & & 1.50% & & \\ \hline & & 8 & & & & & & & & & & 1.50% & & \\ \hline & & 9 & & & & & & & & & & 1.50% & & \\ \hline & & 10 & & & & & & & & & & 3.00% & & \\ \hline & & 11 & & & & & & & & & & 3.00% & & \\ \hline \end{tabular}