Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 81,000 $ 4,000 $ 77,000 5.5% 30 $ 5.68 $...

Use the following amortization chart:

Assume the interest rate rises to 7.0%. What is the total cost of interest with the new interest rate? (Use Table 15.1.)(Do not round intermediate calculations. Round your final answer to the nearest cent.)