You are considering buying a new house, and have found that a $$200,000,30-$year fixed$-$rate mortgage is available with an interest

rate of $4$ percent. This mortgage requires $360$ monthly payments of approximately $$947$ each. If the interest rate rises to $5$ percent,

what will happen to your monthly payment?

Instructions: Enter your response rounded to the nearest dollar. Do not round intermediate calculations.

The monthly payment will be $

Instructions: Enter your response rounded to the nearest tenth of a percent $($one decimal place$).$ Do not round intermediate

calculations.

The change in the monthly payment will be

percent while the change in the interest rate will be

percent.