10. Five years ago you took out a 5/1 adjustable rate mortgage and the five-year fixed rate period has just expired. The loan was originally for $ 250,000 with 360 payments at 5 % APR, compounded monthly. a. Now that you have made 60 payments, what is the remaining balance on the loan? b. If the interest rate increases by 1 %, to 6 % APR, compounded monthly, what will be your new payments?