Dan Druff got a 30 year Fully Amortizing FRM for $100,000 at an annual interest rate of 7% compounded monthly, with monthly payments. After 5 years of payments, Dan can refinance the balance into a 25 year Fully Amortizing FRM at an annual interest rate of 5.25% compounded monthly, with monthly payments. If Dan refinances into the 25-year loan, what will his monthly mortgage payment savings be?

$101.22

$145.50

$519.80

$564.08