Assignment 1 (School Loan and Mortgage): You are consolidating your school loan of $45,000 with a fixed rate of 5.875% on the 10 year loan. You have the opportunity rolling the school loan into your mortgage for a refinance. Your current loan amount on the nortgage is $450,000. The mortgage rate is currently at 3.5%, but if you choose to roll your school loan into the nortgage then your rate will be 3.75% (The cost of rolling the school loan into the 30 year mortgage is 0.25%, which is oased on excellent credit score and a LTV of 80% ). Calculate the monthly payment for all cases and discuss the savings if any) by rolling the school loan into the mortgage. (There are no closing costs). Discuss the pros and cons of considering both option. (Tax credit discussion is excluded in the calculations, but can be discussed in the conclusion) Assignment 1 (School Loan and Mortgage): You are consolidating your school loan of $45,000 with a fixed rate of 5.875% on the 10 year loan. You have the opportunity rolling the school loan into your mortgage for a refinance. Your current loan amount on the nortgage is $450,000. The mortgage rate is currently at 3.5%, but if you choose to roll your school loan into the nortgage then your rate will be 3.75% (The cost of rolling the school loan into the 30 year mortgage is 0.25%, which is oased on excellent credit score and a LTV of 80% ). Calculate the monthly payment for all cases and discuss the savings if any) by rolling the school loan into the mortgage. (There are no closing costs). Discuss the pros and cons of considering both option. (Tax credit discussion is excluded in the calculations, but can be discussed in the conclusion)