John Anderson bought a home with a 10.5% adjustable-rate mortgage for 30 years. He paid $9.99 monthly per thousand on his original loan. At the end of 5 years he owes the bank $65,000. Now that interest rates have gone up to 12.5%, the bank will renew the mortgage at this rate or John can pay $65,000. John decides to renew and will now pay $10.68 monthly per thousand on his loan. You can ignore the small amount of principal that has been paid. What is the amount of the old monthly payment? ($649.35 OR $682.50?)

What is the amount of the new monthly payment? ($812.50 OR $694.20?)

What is the percent of increase in his new monthly payment? (6.5% OR 6.9%?)