Answer :
Step 1
State the annuity formula
[tex]A=\frac{P[(1+\frac{r}{n})^{nt}-1]}{\frac{r}{n}}[/tex]where;
[tex]\begin{gathered} P=? \\ r=6.8\text{\%=}\frac{6.8}{100}=0.068 \\ n=12 \\ t=67-25=42 \\ A=\text{ \$95000} \end{gathered}[/tex]Step 2
Find the monthly payment from 25 years old
[tex]95000=\frac{P[(1+\frac{0.068}{12})^{42\times12}-1]}{\frac{0.068}{12}}[/tex][tex]\begin{gathered} \frac{0.068P\left[\left(1+\frac{0.068}{12}\right)^{42\times \:12}-1\right]}{\frac{0.068}{12}}=95000\times \:0.068 \\ 195.02614P=6460 \\ \frac{195.02614P}{195.02614}=\frac{6460}{195.02614} \\ P=33.1237639 \\ P\approx\text{ \$}33.12 \end{gathered}[/tex]Step 3
Find the monthly payment from 35 years old
[tex]\begin{gathered} 95000=\frac{P[(1+\frac{0.068}{12})^{32\times12}-1]}{\frac{0.068}{12}} \\ n=67-35=32 \\ \frac{P\left[\left(1+\frac{0.068}{12}\right)^{32\times \:12}-1\right]}{\frac{0.068}{12}}=95000 \\ \frac{0.068P\left[\left(1+\frac{0.068}{12}\right)^{32\times \:12}-1\right]}{\frac{0.068}{12}}=95000\times \:0.068 \\ 93.08447P=6460 \\ P=69.39933 \\ P=\text{\$69.40} \end{gathered}[/tex]Answer;
[tex]\text{ \$69.40}[/tex]