Use Template Below To Answer Question Below. Please Included All Formula You Entered Into Template in Excel. $600,000 10-year 3/1 ARM loan that is fully-amortizing with monthly payments. The loan terms include a teaser rate of 2.0%. After the initial teaser rate period, the interest rate resets annually to the index rate plus a margin of 1.50%. The loan terms also include an annual interest rate cap of 2.0% and a lifetime interest rate cap of 6.0% over the initial teaser rate. What is the effective interest rate (EIR) for the loan if it is held to maturity (assume no upfront fees/points or prepayment penalties)? Template Used In Excel A B C D E F G H 1 J K L 1 2 3 EIR 4 Loan Amount Balloon Payment Prepay Penalty Term (Years) Rate Points 5 6 Cash flows 7 Beg balance Payment Interest Principal End balance 8 0 1 2 3 9 4 5 6 7 8 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 9 10 11 12 13 14 15 16 17 18 19 20 Use Template Below To Answer Question Below. Please Included All Formula You Entered Into Template in Excel. $600,000 10-year 3/1 ARM loan that is fully-amortizing with monthly payments. The loan terms include a teaser rate of 2.0%. After the initial teaser rate period, the interest rate resets annually to the index rate plus a margin of 1.50%. The loan terms also include an annual interest rate cap of 2.0% and a lifetime interest rate cap of 6.0% over the initial teaser rate. What is the effective interest rate (EIR) for the loan if it is held to maturity (assume no upfront fees/points or prepayment penalties)? Template Used In Excel A B C D E F G H 1 J K L 1 2 3 EIR 4 Loan Amount Balloon Payment Prepay Penalty Term (Years) Rate Points 5 6 Cash flows 7 Beg balance Payment Interest Principal End balance 8 0 1 2 3 9 4 5 6 7 8 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 9 10 11 12 13 14 15 16 17 18 19 20