Sandra Williams bought a home with a 10.25% adjustable rate mortgage for 25 years. She paid $9.27 monthly per thousand on her original loan. At the end of 3 years she owes the bank $50,000. Since then, interest rates have increased to 12.75%. The bank will renew the mortgage at this rate, or Sandra can pay the bank $50,000. She decides to renew and will now pay $11.10 monthly per thousand on her loan. (You can ignore the small amount of principal paid during the 3 years.) The old monthly payment is $ .
The new monthly payment is $ .
The percent increase in her monthly payment (to the nearest tenth) is %.