Question

The change in interest rate shown in the charts resulted in

a lower interest rate.
a higher principal.
a higher monthly payment.
a higher number of payments.

Answer 1

A higher monthly paynent

Answer 2

Answer:

The correct option is:

A higher monthly payment.

Step-by-step explanation:

Clearly from the table we could observe that after the adjustment the value that have changed are:

There is a decrease in the Principal amount.

Also the monthly interest rate have increased.

The number of monthly payment remaining have decreased.

and the monthly payment has increased.

Hence, The change in interest rate shown in the charts resulted in:

a higher monthly payment.