The day after a bank makes a $7\%,30-$year, $$60,000$ mortgage loan, interest rates rise to $9\%.$ By what amount has the value of the loan declined $($not what the new value is$,$ but how much the value has declined$).$ Enter your answer as a number to the nearest penny $($e$.$g$.,4934\mathrm{.}56).$

Your Answer: $4523\mathrm{.}84$

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That's incorrect. Calculate the PMT for the loan at the initial rate. Now calculate the PV assuming that PMT and the new interest rate. The difference in the original PV $($the loan amount$)$ and the new PV is the amount of the loss.