Need help on part B.

You have decided to purchase an ocean front condo on the Florida Gulf Coast. The final purchase price is exist360,000. The terms of the condo purchase and mortgage are as follows: You will pay 20% of the purchase price down at the time you close. The loan is an adjustable rate mortgage. The original term 4.125% APR (with monthly compounding) for the first 5 years. After the fifth year, the rate will change to 5.75 % AFR. (You new payment will be based on the principal remaining after 5 years, and a 25 year remaining term) The loan will feature a 1% origination fee plus exist9,000 in additional closing costs. (this will be paid as cash at closing and not rolled into the principal) For part A, create the following on a spreadsheet model: Find the payment for the first five years of the loan. (it will be the traditional approach finding the PMT over a 30 year period). Next, determine the new payment on the loan when the rate changes at the end of the fifth year. (keep in mind that the new payment will be based off a 25 year term) Build an amortization table that tracks the beginning balance, payment, interest, principal reduction, and ending balance on the loan over the life of the loan. (assume that the interest rate changes only once after the 5^th year) In a table (not a data table!), show the yearly interest paid and principal reduction for the first five years of the loan. Calculate the effective interest rate paid over the life of the loan. Finally, create a graph that shows the principal reduction and the interest paid each month for the first five years. For part B, you will build a profit and loss statement for potentially renting the condo for the next year. Here are some assumptions for the project: For the P&L you will also include the interest expense from the mortgage. So, for part B, create the following spreadsheet: Build a P&L for the first year of owning the condo. Add a data table that shows the profit (or loss) as a function of the occupancy rate and the weekly rental rate. Copy your P&L over to another sheet. Use Goal Seek to find the % occupancy that sets the profit equal to zero