6. A reset mortgage allows for one interest rate reset during the life of the loan. The mortgage rate will be reset after 5 years, to fully amortize at the end of the original 30 year period (i.e. after 25 more years). For a 6 5/8% (-6.625%), $120,000, mortgage, compute the reset payment if the new rate resets to 7 38%-(7.375%). (Hint: calculate how much balance is left after you pay for 5 years at the rate of 6.625%, then use the left balance as the new PV, pay it off for the rest of the 25 years (a the rate of 7.375%). Assuming monthly compounding. First five years: 1-INPUT, 60-AMORT. a. 810.198 b. 822.188 . 830.951 d. 819.652 e. 816.354