Question: A borrower with a negative amortization adjustable rate mortgage has a loan balance of $98,000 and 29 years remaining in the loan. The current capped

A borrower with a negative amortization adjustable rate mortgage has a loan balance of $98,000 and 29 years remaining in the loan. The current capped payment is $500, however the accrual rate is 6.5%. What will be the loan balance after twelve months?

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