Instructions:

Build a monthly loan model using the info on the right

Don't worry about hiding the zeros

Balloon payments get applied at the end of year G$8$

Apply interest rate increases in first month of each year

This loan may not pay off at the end of the term

There are two interest rate types: $($Hint $-$ use this to calculate the interest charge$)$

If APR then InterestRate$/12$

If EAR then $(1+$ InterestRate ${)}^{\frac{1}{12}}-1$

$6$ What is the unpaid principal balance at the end of the term?

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

$9$

$10$

$11$

$12$

$13$

$14$

$15$

$16$

$17$

$18$

$19$