Marcia has a 25 year adjustable rate mortgage with a fixed rate for the first 6 years. In the 7th year, the interest rate rises to 5.4%. The remaining balance at the end of the 6th years is $178,562.50. What is the monthly payment in the 7th year?

Question

anonymous · Answer

$783.17
	$1,085.89
	$1,254.07
	$1,294.25

jim_thompson5910 · Answer

imagine you are given a mortgage of $178,562.50

for 19 years (25-6 = 19)

interest rate of 5.4%

what is the monthly payment?

anonymous · Answer

$1254.07

jim_thompson5910 · Answer

I'm getting the same thing

anonymous · Answer

oh that was easier than i thought it was going to be haha