Assumptions Original mortgage term (mos) Time since mortgage inception (mos) Remaining term of mortgage (mos) Mortgage payment (monthly) Mortgage interest rate (APR) Monthly mortgage interest rate \begin{tabular}{|r|r|} \hline 360 \\ 56 \\ \hline2,356.00 \\ \hline6.375% \\ \hline \end{tabular} 360 304 Long Form Remaining balance Excel Function Remaining balance PVAnnuity=Cr1(1(1+r)N1) (8 points) You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $2,356 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6.375% (APR). How much do you owe on the mortgage today