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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

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 decimol ploces.)

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