Question: A borrower just obtained a 10-year fixed-rate negative amortizing mortgage loan from a bank with the original loan amount of $200,000 and the annual

A borrower just obtained a 10-year fixed-rate negative amortizing mortgage loan from

A borrower just obtained a 10-year fixed-rate negative amortizing mortgage loan from a bank with the original loan amount of $200,000 and the annual interest rate of 8%. The bank allows the borrower to only pay $1,000 per month. What's loan balance at its maturity? $260,982.01 $80,000.00 $311,785.00 $323,928.05 No answer within +/- $100.00 of the correct one.

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