[Jemeka Williams-dixon]

Thirty percent of the payment is put into an escrow accou? calvin's current monthly mortgage payment is $1,580. Thirty percent of the payment is put into an escrow account to pay taxes and insurance. The rest of the money is used to pay his adjustable rate mortgage loan. Next year, the amount Calvin pays towards his loan will increase by 6.5%. What will his total new monthly mortgage payment be?

[mandi]

1580*.3=474 to escrow1580-474=1106 to p&i1106*.065=71.89 increase1580+71.89=1651.89 new payment