For a 3/1 ARM adjustable-rate-level-payment mortgage (ARM) of $400,000 with the following mortgage rates: Construct the following in an amortization table containing 1. Quarterly Payment, Interest, Principal, and Loan Balance for each period and also add this additional column of total interest expense 2. Iotal interest Expense for - each year, and every five-year period as a separate column - for the entire life of the loan. Use Excel, to construct an amortization table for the following mortgage. In the amortization table, provide all the information listed below. Assuming the interest is compounded quarterly and payments are due at the end of each quarter. The margin rate is 2.75%. You have a teaser rate of 5.00% for the first two years. From years 4.8 . add margin + interest rate. There is a celling cap rate on the ARM interest at 12.0% (highest interest payable cannot exceed this rate) Create in Excel the following: At the end of each year when the interest rate resets, use the loan balance at the end of the previous year as the new loan amount to compute the payments. Ensure that the "per" starts at 1 for each year when computing interest and principal every time the interest rate changes. For example, when a new interest begins, use the following For PMT=37, use Loan balance at period 36 as PV and solve for interest payments, principal for all the periods that use that particular interest rate, nper will the no. of payments that remain (total - \# of periods that were paid) For PMT=49, use toan balance at period 48 as PV and so on For a 3/1 ARM adjustable-rate-level-payment mortgage (ARM) of $400,000 with the following mortgage rates: Construct the following in an amortization table containing 1. Quarterly Payment, Interest, Principal, and Loan Balance for each period and also add this additional column of total interest expense 2. Iotal interest Expense for - each year, and every five-year period as a separate column - for the entire life of the loan. Use Excel, to construct an amortization table for the following mortgage. In the amortization table, provide all the information listed below. Assuming the interest is compounded quarterly and payments are due at the end of each quarter. The margin rate is 2.75%. You have a teaser rate of 5.00% for the first two years. From years 4.8 . add margin + interest rate. There is a celling cap rate on the ARM interest at 12.0% (highest interest payable cannot exceed this rate) Create in Excel the following: At the end of each year when the interest rate resets, use the loan balance at the end of the previous year as the new loan amount to compute the payments. Ensure that the "per" starts at 1 for each year when computing interest and principal every time the interest rate changes. For example, when a new interest begins, use the following For PMT=37, use Loan balance at period 36 as PV and solve for interest payments, principal for all the periods that use that particular interest rate, nper will the no. of payments that remain (total - \# of periods that were paid) For PMT=49, use toan balance at period 48 as PV and so on