Question: 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;

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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