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PLEASE HELPP! 1st image is the question 2nd image is an example answer 1. Adjustable Rate Mortgage (ARM): The Loan is for $150,000 for 30
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1. Adjustable Rate Mortgage (ARM): The Loan is for $150,000 for 30 years payable monthly with MPVIFA terms for years 1 through 4 capped at the rates for the respective years at 6%;9%,11% and 3%. The market rates are 6%;11%; 12% and 3% Calculate and show Tables 1&2 for determining the monthly payments and loan balances (see solution for handout problems on D2L for layout) Table 1: Monthly Payments and Loan Balances (\$): LoanBalance200,000197381.82197363.77199842.25208958.06203832.29n123456Terms8%,2510%,2412%,2313%,226%,21MPVIFA129.5645315109.005049293.5834610386.93940934143.0908062MP1543.631810.762108.962298.631460.31 Year 2 LB: 200,000-2618.18= 197381.82 Table 2: Amortization Table for years 1 through 5: \begin{tabular}{lcccccc} N Monthly Rate & Monthly Interest & Monthly Amortization MP-Interest & & MFVIFA Annual \\ \multicolumn{3}{c}{ Amortization } \\ 1 & .08/12LB= & 1333.33 & 210.30 & x & 12.44992727 & \multicolumn{2}{c}{2618.18} \\ 2 & .11/12 & 1809.33 & 1.43 & 12.62387313 & 18.05 \\ 3 & .14/12 & 2302.58 & 193.62 & 12.80074609 & 2478.48 \\ 4 & .18/12 & 2997.63 & 699.00 & 13.04121143 & 9115.81 \\ 5 & .06/12 & 1044.79 & 415.52 & 12.33556237 & 5125.77 \end{tabular} 1. Adjustable Rate Mortgage (ARM): The Loan is for $150,000 for 30 years payable monthly with MPVIFA terms for years 1 through 4 capped at the rates for the respective years at 6%;9%,11% and 3%. The market rates are 6%;11%; 12% and 3% Calculate and show Tables 1&2 for determining the monthly payments and loan balances (see solution for handout problems on D2L for layout) Table 1: Monthly Payments and Loan Balances (\$): LoanBalance200,000197381.82197363.77199842.25208958.06203832.29n123456Terms8%,2510%,2412%,2313%,226%,21MPVIFA129.5645315109.005049293.5834610386.93940934143.0908062MP1543.631810.762108.962298.631460.31 Year 2 LB: 200,000-2618.18= 197381.82 Table 2: Amortization Table for years 1 through 5: \begin{tabular}{lcccccc} N Monthly Rate & Monthly Interest & Monthly Amortization MP-Interest & & MFVIFA Annual \\ \multicolumn{3}{c}{ Amortization } \\ 1 & .08/12LB= & 1333.33 & 210.30 & x & 12.44992727 & \multicolumn{2}{c}{2618.18} \\ 2 & .11/12 & 1809.33 & 1.43 & 12.62387313 & 18.05 \\ 3 & .14/12 & 2302.58 & 193.62 & 12.80074609 & 2478.48 \\ 4 & .18/12 & 2997.63 & 699.00 & 13.04121143 & 9115.81 \\ 5 & .06/12 & 1044.79 & 415.52 & 12.33556237 & 5125.77 \end{tabular} 1st image is the question 2nd image is an example answer
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