Current Attempt in Progress

Five years ago, Anthony borrowed $$260,000$ to purchase a house in Sandy Lake. At the time, the quoted rate on the martge $7$

percent, the amortization period was $25$ years, the term was $5$ years, and the payments were made monthly. Now that the term of the

mortgage is complete, Anthony must renegotiate his mortgage. If the current market rate for mortgages is $9$ percent, what is

Anthony's new monthly payment? $($Round effective monthly rate to $6$ decimal places, e$.$g$.25\mathrm{.}125412\%$ and final answer to $2$

decimal places, e$.$g$.125\mathrm{.}12.$ Do not round your intermediate calculations.$)$

New monthly payment $