7. (30pts) You have been living in the house you bought 2 years ago for $394,000. At that time, you took out a loan for 80% of the house at a fixed rate 30 -year loan at an annual stated rate of 4.125%. You have just paid off the 24 th monthly payment. You have found another lender who will refinance the current outstanding loan balance at 3.125% with monthly payments for 30 years. There is no prepayment penalty on the mortgage balance of the original loan, but other closing costs will be $4,000. a. What is the payment on the old loan? b. What is the current loan balance on the old loan (two years after origination)