Graduated payment problem. a. Use excel to calculate the initial payment of the following FHA GPM loan: $300,000, 30 years, 3%, monthly, 4 increases or steps (years 2, 3, 4, and 5-30) of 10% each. When I solve this problem I actually write the TVM formulas using parentheses and the exponential key ^. Use whatever method you like but remember it must work on excel with NO calculator assistance. It must solve for both loans. b. now change the loan to $430,000, 6%, 30 years, monthly, same step increases. Solve for new payment.