You work for an nationally charter bank and have been asked to project adjustable rate mortgage (ARM) payments over the life of a loan. Below is the loans information: 15 year loan Use the interest rates -

Int Rate

0.13%

0.53%

2.18%

0.01%

2.61%

2.39%

3.71%

4.11%

6.18%

2.33%

8.92%

4.74%

4.68%

7.13%

2.43%

$2,500,000 Property Value 80% LTV No Points No Fees You must calculate the following in an Excel file. Show all formula.

1) OLB (Beginning) for each month. 2) Payment (PMT) for each month. 3) Interest (INT) for each month. 4) Principal (PRIN) for each month. 5) OLB (End) for each month.