Question: 2- Prepare the loan amortization table/schedule from scratch (not the Excel template) for a $300,000, 15-year ARM mortgage with 2% annual cap & 5% life

2- Prepare the loan amortization table/schedule from scratch (not the Excel template) for a $300,000, 15-year ARM mortgage with 2% annual cap & 5% life cap; negative amortization allowed. Initial Payments based on 10% rate of interest. Composite rate in year 1 = 12%. Composite rate in year 2-15 = 14%.

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