2,4% compounded yearly

2000 monthly payment

1 000 000 initial payment

40 years

1) There is a risk according to Mr. Andreotti that the interests may rise after the first 5 years. If this is the case, and the new interest rate is 5%, just after the first 5 years, how much will then be the monthly payments for the remaining 35 years of mortgage? (Hint the total initial value of the loan is depends of the offered purchase price in point

2). Explain your answer and show your calculations.