D. Jayce & Ryan took out a 30-year mortgage for $299.000 at 7.255 interest compounded monthly to purchase a house. After 10 years of paying off this original loan, they decided to refinance their loan because the interest rates and dropped. They refinanced the balance of their loan using a new 20-year mortgage at 396 compounded monthly (a) What was the original monthly mortgage payment? (b) What was the balance of the original loan after the first 10 years? (c) What was the new monthly payment after refinancing! (d) How much interest would have been paid over the 30 year period on the original loan if they didn't refinance? (e) How much teres www.paid over the your period with the refinancing Consider the original loan again. For the very find monthly payment, how much of the payment was interest and how much was principal? Interest Principal D. Jayce & Ryan took out a 30-year mortgage for $299.000 at 7.255 interest compounded monthly to purchase a house. After 10 years of paying off this original loan, they decided to refinance their loan because the interest rates and dropped. They refinanced the balance of their loan using a new 20-year mortgage at 396 compounded monthly (a) What was the original monthly mortgage payment? (b) What was the balance of the original loan after the first 10 years? (c) What was the new monthly payment after refinancing! (d) How much interest would have been paid over the 30 year period on the original loan if they didn't refinance? (e) How much teres www.paid over the your period with the refinancing Consider the original loan again. For the very find monthly payment, how much of the payment was interest and how much was principal? Interest Principal