Assuming the mortgage is a $20-$year adjustable rate mortgage, use the given information to find the monthly mortgage payment. Then make a rough estimate of the monthly payment for year $3$ by calculating the monthly payment for a $20-$year mortgage for the original amount at the new interest rate.

P $=$ $$225,000$; beginning interest rate, $6\%$; rate increases $2\%$ each yearAssuming the mortgage is a $20-$year adjustable rate mortgage, use the given information to find the monthly mortgage payment. Then make a rough estimate of the monthly payment for year $3$ by calculating the monthly payment for a $20-$year mortgage for the original amount at the new interest rate.

P $=$ $$225,000$; beginning interest rate, $6\%$; rate increases $2\%$ each year