Win A $25 Guusto Gift Card - WE ARE PICKING 2 WINNERS THIS TIME

The prime interest rate increased by 4.0% in 2022 and 4.25% as of February 2023. If you have a $500,000 adjustable rate mortgage, how much would your monthly payments have increased from January 2022 - February 2023?

A) $522.54 per month

B) $837.92 per month

C) This is a trick question - there would be no change to the payment because, with an adjustable rate mortgage (ARM), the payment amount remains the same each month, but if rates go up, more goes to interest, and less goes to principle. 

D) $1,160.43

Criteria to WIN the $25 Guusto gift card:

1) Be the first person to answer the below question accurately (text or email me your answer so I can use the time stamp to determine the winner - the competition is FIERCE).
2) Share my newsletter to your social media (there is an option to "share this newsletter" at the top of the newsletter).