If an adjustable-rate 30-year mortgage for $131,000 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.)

Torm Rato 30 Yoars 25 Yours 20 Yoars 15 Yours 3.0% $4.22 $4.74 $5.55 $6.91 3.5 4.49 5.01 7.15 5.80 6.06 4.0 4.77 5.28 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 7.72 8.36 9.56 8.5 7.69 8.05 8.68 9.85