Sheridan Service has a line of credit

loan with the bank. The initial loan

balance was

$$8000\mathrm{.}00.$

Payments of

$$3000\mathrm{.}00$

and

$$3500\mathrm{.}00$

were made after

three

months and

nine

months respectively. At the end of one

year, Sheridan Service borrowed an

additional

$$4500\mathrm{.}00.$

Ten

months later, 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

$7\%$

compounded