Sheridan Service has a line of credit loan with the bank. The initial loan balance was $7000.00. Payments of $2500.00 and $3500.00 were made after three months and six months respectively. At the end of oneyear, Sheridan Service borrowed an additional $4000.00. Eleven monthslater, the line of credit loan was converted into a collateral mortgage loan. What was the amount of the mortgage loan if the line of credit interest was 8% compounded monthly?

The amount of the loan is $__