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Question 3 10 pts The option ARM allow borrowers to choose their mortgage payment. The minimum payment pays no principal, and less interest than what

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Question 3 10 pts The "option" ARM allow borrowers to choose their mortgage payment. The minimum payment pays no principal, and less interest than what accrues on the loan. Consider a $120,000 loan at 6% interest with 30-year amortization. Below what payment amount, would this loan have negative amortization? That is what monthly payment would only cover the interest? O $500 $600 O $700 $800 $900

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