please answer Question 1-5

HOMEWORK #2 You must show a number grid by years similar to the one shown in class neatly for full credit Given the following answer the questions below: 1 year adjustable rate loan Margin is 1.5 Initial rate charged is 3.5% Assume the index goes as follows: Yr. 1 3%, Yr, 2-6%, Yr, 3- 5.5%, Year #4 3%, Year #5-4%, Yr. 6 = 6%, Yr. 7 = 996, Yr. 8 = 1096 use at Caps are 2%/6% 30 year term catio I. What is the rate you pay in Year #2. 2, what is the rate you pay in Year # 3, What is the rate you pay in Year #8 4. How many years would you plug into the mortgage constant for calculating the payment in the 5th year of the loan 5. The maximum possible rate of interest you would ever have to pay is HOMEWORK #2 You must show a number grid by years similar to the one shown in class neatly for full credit Given the following answer the questions below: 1 year adjustable rate loan Margin is 1.5 Initial rate charged is 3.5% Assume the index goes as follows: Yr. 1 3%, Yr, 2-6%, Yr, 3- 5.5%, Year #4 3%, Year #5-4%, Yr. 6 = 6%, Yr. 7 = 996, Yr. 8 = 1096 use at Caps are 2%/6% 30 year term catio I. What is the rate you pay in Year #2. 2, what is the rate you pay in Year # 3, What is the rate you pay in Year #8 4. How many years would you plug into the mortgage constant for calculating the payment in the 5th year of the loan 5. The maximum possible rate of interest you would ever have to pay is