can you show work. thanks

Part It: Own & Re-Finance A House You have been in your home for about (not exactly) four and a half years and your current monthly mortgage payment is $1.024.50. When you bought the home, it cost $293.000. You put $50.000 down and financed $243,000 with a 30 year fixed rate mortgage at 3% annual interest rate. Your home has appreciated in value considerably and you are considering refinancing to access some of that equity, perhaps to use for the car. Your credit rating qualifies you for a 2.85% interest rate with zero closing costs. for a standard 30 yeur mortgage. Part A- Current Situation: Let's do a quick overview of your current mortgage. I've done some of the work for you by giving you the monthly payment! Find the total cost of loan on your home if you kept the current loan a. How much interest would you pay over the life of this loan b. You contact the bank and they inform you that after making exactly 53 payments, your balance on the loan is $219,400. (do not overthink this part, these are not tricks!) How much have you paid down on your principal d. Find the total you have already paid to the bank in monthly payments. How much interest have you paid on the loan so far? (Hint: use the answers to ports c and d to determine this!) Part 8 - Amount you can Finance: Use the Irior Value Formula for these calculations. You are pre-qualified for up to $1250/mo. Find the maximum you can finance under the new terms. a Find the total cost of this loan mint this is an easy one!) How much were you able to "cash out" by refinancing? This is the amount you can bomow minus the outstanding loan balance.) Part M: Should I Finance my Car by Refinancing My House? Recap: Your current loan balance is $219,400 after making 53 payments of $1,024.50. With your current mortgage, the total cost of your home loan was You have payments remaining for a total of (Z) "Z" is the total remaining cost of your home if you pay out the existing mortgage. If you are going to pay for your car from proceeds of "cashing out" by refinancing your home, you will be paying the full $32,000 for the car. Let's then assume that you can get $2500" for a private-party sale of your used car so that you need to "cash out" only $29,500 to properly compare to the dealer financing scenarios. (This may seem low, but trade-ins are often well over for market value for soch sales ...not to be confused with fair market value of the car it you were going to purchase from a dealer with the ouvronces, Inancing etc. that go with those sales.)