Mathematics, 06.07.2019 21:00 terrellmakinmovessmi
Jon ericson bought a home with a 11.5% adjustable rate mortgage for 20 years. he paid $10.67 monthly per thousand on his original loan. at the end of 2 years he owes the bank $50,000. now that interest rates have gone up to 13%, the bank will renew the mortgage at this rate or jon can pay $50,000. jon decides to renew and will now pay $11.72 monthly per thousand on his loan. you can ignore the small amount of principal that has been paid. what is the amount of the old monthly payment? $ what is the amount of the new monthly payment? $ what is the percent of increase in his new monthly payment? %
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Jon ericson bought a home with a 11.5% adjustable rate mortgage for 20 years. he paid $10.67 monthly...
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