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Peter took a fixed - rate , fully amortizing mortgage loan for a 5% interest rate for 10 years monthly compounding loan ) , with

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Peter took a fixed - rate , fully amortizing mortgage loan for a 5% interest rate for 10 years monthly compounding loan ) , with the loan amount being $90 000 . The lender allows him to pay $200 monthly payments for the first three year Assume negative amortization is allowed . What will be the accrued interest or the amount of increased loan balance for the loan three years later from now ? $6567 57 022 $6 782 $7 024

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