Jill continues ...

" Now that we know the balance after 5 years, I'm concerned that interest rates may go up by then, because our rate of 4% is fixed for that long. How much will I need to repay every month if my mortgage rate increases by 50 basis points after fixed rate term expires? "

Hint: You may assume that the banks will pass on the full increase in cost of funds from the RBA to their customer loans. 

When you enter in the loan PV, enter it in as a -tive to satisfy the calculator convention.

Enter your answer without $ and to 2 decimal places