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Consider a 4-year, adjustable rate mortgage with an original balance of 26,000 and an initial interest rate of 6.2%. Suppose right after the month 4

Consider a 4-year, adjustable rate mortgage with an original balance of 26,000 and an initial interest rate of 6.2%. Suppose right after the month 4 payment has been made, the interest rate goes up by 0.9%. What is the new monthly payment in the following month?

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