4. Jim wants to refinance his home by taking out a single mortgage and paying off all the other subprime and prime mortgages that he took on while the going was good. Listed below are the balances and rates owed on each of his outstanding home-equity loans and mortgages: Lender Balance Rate First Cut-Throat Bank $ 150,000 7.5% Second Considerate Bank $ 35,000 8.5% Third Pawn Mortgage Co. $ 15,000 9.5% Below what rate would it make sense for Jim to consolidate all these loans and refinance the whole amount