Floating rate loans charge interest according to market interest rate. John takes a 10 year mortgage loan of $50,000 at j12=9% repayable by monthly payments. His EMI works out at $633.40. He plans to keep the EMI same throughout the loan tenure however, tenure of the loan can be adjusted with changes in market interest rate. Two years hence, interest rate in the market increases to 9.5%. If the monthly payment is kept same what will be the remaining duration of the loan and the size of final payment.