If an adjustable-rate 30-year mortgage for $120,000 starts at4.0 percent and increases to 5.5 percent, what is the amount ofincrease of the monthly payment? (Exhibit 9-9) \begin{tabular}{|c|c|c|c|c|} \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 & 2 answers