Objective: To explore the influence of a fully amortized adjustable rate mortgage on the financial performance of a residential property investment, particularly the IRR. Predicted prime rates are given as follows:

$2.$ Compute the property owner's equity at the end of each month.

$3.$ Compute the IRR for the property owner if the property is sold after $36$ months.

$4.$ Compute the IRR for the property owner if the property is sold after $36$ months, assuming the owner paid $2$ discount points at the closing of the loan.