In tab $3$ of the template, you are considering a $$590,000,15-$year, monthly amortizing price level adjusted mortgage $($PLAM$)$ at $5\%$ real interest rate. The inflation in first $5$ years is expected to be at $4\%,$ in the next $5$ years at $3\%,$ and in the final five years at $2\%.$ Develop an annual amortization table for this contract as shown below.

a$)$ Consider $1\mathrm{.}25\%$ commitment fees, $2$ points and $3\mathrm{.}25\%$ closing cost on the

loan. Calculate the APR. Use Excel functions for ALL calculations. For

simplicity, consider only the annually aggregated cash flows when calculating the

APR.

b$)$ Draw an annual graph of how the monthly payment and mortgage balance change

over the $15$ years