7. You bought your home in early 2023 , with a 9.0% interest rate on a 20 -year, $240,000 mortgage. Four years later, mortgage rates have dropped to 5.4%. You are considering refinancing to lower your monthly payments. The fees associated with refinancing include a $1200 application fee, closing costs of $1000, and payment of 1.5 points. a. What are the total expenses to obtain the new loan? b. If you finance the expenses of obtaining the new loan, what will the new loan amount and the monthly payments be? c. If you pay the expenses of obtaining the new loan, what will the new loan amount and the monthly payments be? d. What is the difference between the monthly payments with the old and new loans? e. What is the implied course of action