answer 12 & 13

3.5 pts Question 12 A homeowner bought a property for $300,000 5 years ago. He got a $250,000 loan at 9% for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25-year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly What is the monthly mortgage payment if the homeowner decided to refinance the loan balance at the current terms with a 25-year loan? 51771.36 5179753 51819.11 51619,56 Question 13 3.5 pts A homeowner bought a property for $300,000 5 years ago. He got a $250,000 loan at 9% for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25-year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly What is the monthly payment difference (saving) if the borrower refinance the loan? 5210:56 $220.49 $240.19 $23753 3.5 pts Question 14 A homeowner bought a property for $300,000 5 years ago. He got a $250.000 loan at 9% for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25-year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly What is the return on the investment (2% of the loan amount to refinance the mortgage)? Assume that the homeowner will stay for the remaining loan term? 68.025 71.42% 60.12 58.913 3.5 pts Question 15 A homeowner bought a property for $300,000 5 years ago. He got a $250,000 loan at 9% for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25-year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly. What is the loan balance for the refinanced loan after 4 years? $211.210.56 $224460.30 5250:240.19 5230.23753 Question 16 3.5 pts A homeowner bought a property for $300,000 5 years ago. He got a $250.000 loan at 9% for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25-year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly What is the return on the investment (2% of the loan amount to refinance the mortgage)? Assume that the homeowner will stay for only 4 more years? 68.91% 62.51% 59.02% 57.5%