Eowyn wants to buy a house that is priced at $235,000. She makes a down payment of 20% and then finances the balance with a loan that will require her to make monthly payments for thirty years, with the first payment due one month after the purchase of the house.

Now suppose that immediately after she makes her 100th payment, she is able to refinance her loan at 2.95% per year compounded monthly, and the new loan requires her to make monthly payments for the following 15 years, with the first payment due one month after refinancing.

a) Find the new monthly payment amount.

b) How much interest will she pay in the process of paying off her house (in totalmeaning from the date of purchase all the way through her final payment after refinancing)?