A floating rate mortgage loan is made for $100,000 for 30yrs at a start rate of 12% interest. The parties have agreed to an $800 payment monthly. What is the loan balance at end of year 1? What if the...

A floating rate mortgage loan is made for $100,000 for 30yrs at a start rate of 12% interest. The parties have agreed to an $800 payment monthly.

What is the loan balance at end of year 1?

What if the interest rate increases to 13% at the end of year 1? How much intrest will be accrued from negative amortization in year one if the payment remains at $800? Year 5?