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For the first two years of her mortgage stress was making fixed monthly payments of 1000 per month her two year fix rate. Has just ended and now she must pay an interest rate of 6%. The amount understanding on her mortgage is 170,000 after two years and the mortgage will last for 28 years more. Calculate the increased in monthly payments that she must be now.

User Almathie
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1 vote

Answer:

The new monthly payment will be $944.16

User A Tyshka
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