Whats loan balance at its maturity

Reference no: EM133430492

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 interest rate of 8%. The bank allows the borrower to only pay $1,000 per month. What's loan balance at its maturity?

Reference no: EM133430492

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