2. (25 Points) Suppose a borrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 2% annual rate cap. On the reset date, the composite rate is 7%. What would the Year 3 monthly payment be? (15 points) Step I Step2 PV= -179084.11 PV = -200 000 I= 7412=10.58) I=47212= 10.33) N= 336 N=360 130x2) (24) FV=0 Om T- FV=?$179,084Wis PMT= 1,212.36 3rd year monthly PMt) Dl what this 3rd year monthly Put! Suppose the borrower takes out the same 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan have a "teaser rate of 4%, after that, the rate can reset with a 5% annual payment cap and allows for negative amortization. On the reset date, the composite rate is 7%. What would be the Year 3 monthly payment and the outstanding balance on the loan at the end of Year 3? (10 points) che DIGA