show calculation step by using input (N,PV,PMT,FV)

[QUESTION] 23. You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for 3 years. Calculate the outstanding balance on the loan after 3 years. The interest rate after the initial lock period is 6.5%. (Note: the term on this 3/1 ARM is 30 years) A. $2,098.43 B. $2,183.95 C. $336,294.25 D. $347,901.57 Ans: C Difficulty: Intermediate Learning Objective: 1 I [QUESTION) 24 You have taken out a $300,000, 5/1 ARM. The initial rate of 5.4% (annual) is locked in for 5 years