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If an adjustable-rate 30-year mortgage for $130,000 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 $130,000 starts at 4 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.) Increase in Monthly Payment Torm Rato 30 Years 25 YORUS 20 Years 15 Yoars 3.0% $4.22 $4.74 $5.55 $6.91 3.5 4.49 5.01 5.80 715 4.0 4.77 5.28 6.06 7.40 4.5 5.07 5.56 6.33 7.65 5.0 5.37 5.85 6.60 7.91 5.5 5.68 6.14 6.88 8.17 6.0 6.00 6.44 7.16 8.43 6.5 6.32 6.67 7.45 8.71 7.0 6.65 7.06 7.75 8.98 7.5 6.99 7.39 8.06 9.27 8.0 7.34 772 8.36 9.56 8.5 7.69 8.05 8.68 9.85

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