What is the yield on the following $1-$year adjustable rate mortgage?

What is the lenders expected yield $($assume a holding period of term$)$ for the following loan if $1-$Year Treasury yields are expected to be $5\%$ today, $8\%12$ months from now, $6\%24$ months from now, and $4\%$ thereafter?

ARM description $$

Rate resets every year.

Fully adjusted rate $=$ Index $+$ Margin

Margin $=3\%.$

Index $=1-$Year Treasury yield at reset date.

Lifetime Cap of $9\%.$

Per Period change cap of $2$ percentage points $(200$ bps$)$

No other caps, floors, or max adjustments.

Teaser rate of $5\%$

$30-$year loan with no points or fees.

Loan amount $$400,000$

Fill out this table:

Mortgage Interest Rate Fully Adjusted Rate Index Margin

M $01-12$

M $13-24$

M $24-36$

M $37-360$

Find the payments:

Months $1-12$:

Months $13-24$:

Months $25-36$:

M $37-360$:

Calculate the rate of return for the lender: