Question: A mortgage loan of $6.1 million is to be paid in 20 years using equal weekly payments and the interest rate is 6.48 percent.

A mortgage loan of $6.1 million is to be paid in 20 years using equal weekly payments and the interest rate

A mortgage loan of $6.1 million is to be paid in 20 years using equal weekly payments and the interest rate is 6.48 percent. What would be the weekly payment? (use 1 year = 52 weeks) After 8 years: the interest rate increases by 1.3 percent. What would be the new weekly payment?

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