Answer: $â€2,025‬
Explanation:
Your monthly payment based on the rate of 6.3% per annum is:
= (6.3% * 1,620,000 ) / 12 months
= 102,060‬ / 12
= $â€8,505‬
Now that the rate has gone up to 7.8% per annum, the payment is:
= (7.8% * 1,620,000 ) / 12 months
= â€126,360‬ / 12
= $â€10,530‬
Payment went up by:
= â€10,530‬ - 8,505
= $â€2,025‬
