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If an adjustable-rate 30-year mortgage for $125,000 starts at 4 percent and increases to 5.5 percent, what is the amount of increase of the monthly

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If an adjustable-rate 30-year mortgage for $125,000 starts at 4 percent and increases to 5.5 percent, what is the amount of increase of the monthly payment? (Use Exhibit 99.) (Round your answer to 2 decimal places.) Increase in Monthly Payment

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