On the loan in number 18, your rate escalates to 9.75% per year, compounded monthly, after two years. Your new rate and payment are calculated on the new balance over the remaining 28 years of the mortgage. What is the difference in interest payments for the second, vs the third, years of your mortgage? In other words, how much more in interest do you pay with this escalating mortgage, in the first year AFTER the interest rate escalates? (Hint: P1=1, and P2=12 for year 1. P1=13 and P2=24 for year 2, etc) Be careful. Think!