5. Ten years ago, a couple bought a house for $250,000 with 10% down and a 25 year mortgage with an interest rate of 6.2% a year. What were the monthly payments? 5 points They refinance the mortgage today. They are using a 15 year mortgage with an annual rate of 3%. The bank charges an upfront cost of $5,000 for the refinancing which is added to the amount owed on the original loan. How much do they owe on the original loan before adding the upfront cost (balance)? 5 points What will be the amount of the new monthly payment? 5 points Why the difference in the two amounts? 5 points How much will they save over the next 15 years? 5 points