Exhibit 9-9

If an adjustable-rate 30 -year mortgage for $120,000 starts at 4.0 percent and increases to 5.5 percent, what is the amount of increase of the monthly payment? (Use Exhibit 9-9.) (Round your answer to 2 decimal places.) \begin{tabular}{|ccccc|} \hline Term Rate & 30 Years & 25 Years & 20 Years & 15 Years \\ \hline 3.0% & $4.22 & $4.74 & $5.55 & $6.91 \\ \hline 3.5 & 4.49 & 5.01 & 5.80 & 7.15 \\ \hline 4.0 & 4.77 & 5.28 & 6.06 & 7.40 \\ \hline 4.5 & 5.07 & 5.56 & 6.33 & 7.65 \\ \hline 5.0 & 5.37 & 5.85 & 6.60 & 7.91 \\ \hline 5.5 & 5.68 & 6.14 & 6.88 & 8.17 \\ \hline 6.0 & 6.00 & 6.44 & 7.16 & 8.43 \\ \hline 6.5 & 6.32 & 6.67 & 7.45 & 8.71 \\ \hline 7.0 & 6.65 & 7.06 & 7.75 & 8.98 \\ \hline 7.5 & 6.99 & 7.39 & 8.06 & 9.27 \\ \hline 8.0 & 7.34 & 7.72 & 8.36 & 9.56 \\ \hline 8.5 & 7.69 & 8.05 & 8.68 & 9.85 \\ \hline \end{tabular}