Bret rockford bought a home with a 11.5% adjustable rate mortgage for 20 years. he paid $10.67 monthly per thousand on his original loan. at the end of 1 year he owes the bank $70,000. since then interest rates have increased to 13%. the bank will renew the mortgage at this rate, or bret can pay the bank $70,000. he decides to renew and will now pay $11.72 monthly per thousand on his loan. you can ignore the small amount of principal paid during the year. what was the old monthly payment? $what is the new monthly payment? $what is the percent increase in her monthly payment (to the nearest tenth)?