Question: Drill Problem 15-5 (Algo) [LU 15-1 (3)] Use the following amortization chart: Assume the interest rate rises to 6.5%. What is the total cost of

Drill Problem 15-5 (Algo) [LU 15-1 (3)] Use the following amortization chart: Assume the interest rate rises to 6.5%. What is the total cost of interest with the new interest rate? (Use Table 15.1). Note: Round your intermediate calculations and final answer to the nearest cent. TABLE 15.1 Amortizationa table (mocigage principal and interest pre 51,0001)

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