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You have just negotiated a 5-year mortgage on $200,000 amortized over 25 years at a rate of 6%. Assume after five years the mortgage rate

You have just negotiated a 5-year mortgage on $200,000 amortized over 25 years at a rate of 6%. Assume after five years the mortgage rate changes to 5%, what will be your new payments after 5 years.

The answer is: 1180.68 BUT how? I want step by step solution! I do not want excel

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