Answer is $67,500, please don't use Excel or online calculators or I will be forced to drop out of college. :)

11. Jill negotiates a $65,000 mortgage on a house with monthly payments of $500 for the first year, $600 for the second year, and $700 until the final payment. The first payment is due one month after the loan. The annual interest rate is 12% convertible monthly. Find the outstanding balance to the nearest $500 on Jill's mortgage immediately after the 36th payment. E. Cannot be determined A. $64,500 B. $65,500 C. $66,500 D. $67,500 11. Jill negotiates a $65,000 mortgage on a house with monthly payments of $500 for the first year, $600 for the second year, and $700 until the final payment. The first payment is due one month after the loan. The annual interest rate is 12% convertible monthly. Find the outstanding balance to the nearest $500 on Jill's mortgage immediately after the 36th payment. E. Cannot be determined A. $64,500 B. $65,500 C. $66,500 D. $67,500