You are considering buying a new house, and have found that a $100,000, 20-year fixed-rate mortgage is available with an interest rate of 6 percent. This mortgage requires 240 monthly payments of approximately $707 each. If the interest rate rises to 7 percent, what will happen to your monthly payment? Instruction: Round to the nearest dollar The monthly payment will be $ . Instruction: Round to the nearest tenth of a percent. The change in the monthly payment will be percent while the change in the interest rate will be percent.