(Answered) How much more would her monthly payment

Management Studies

Problem: Myra Hofstra bought a home for $180,000 with a down payment of $30,000 at 12 1/2 percent for 25 years. Since then the rate has risen to 14 1/2 percent.

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Question: How much more would her monthly payment be if she bought the house at 14 1/2 percent? Be detailed in your response and provide examples also.

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