an investor is considering refinance a property. The current mortgage has an interest rate of 8.75% and a mortgage balance equal to 45% of the property value due to amortisation of the loan and some appreciation in value .However .the investor would like to refinance at an amount equal to 75% loan to value ratio for 9,5% interest over 15 years .Is the incremental cost of refinancing higher than,less than ,or equal to 9,5%. Explain why