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QUESTION 2 Same set-up as Q1. A PO and IO class of securities is formed backed by a S7,500,000 pool of 10-year FRMs making annual payments with a 10% interest rate. What is the present value of the IO class if the discount/market rate is 11%? Excel is recommended for this problem QUESTION 3 Given a floater and a inverse floater tranche backed by a total mortgage principal amount of $25,000,000, 7% mortgage rate, and even allotments to the floater class and the inverse floater classes (.5 to each of total principal), what is the maximum interest rate cap on the floater class? (State your answer as a percentage as follows: if your answer was two percent, enter 2.00)