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Five years ago you acquired a 15-year loan of $210,600, charging 4.4% annual interest.compounded monthly, and requiring monthly payments. At this time, interest rates on

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Five years ago you acquired a 15-year loan of $210,600, charging 4.4% annual interest.compounded monthly, and requiring monthly payments. At this time, interest rates on 15-year loans have dropped to 2.6% APR, compounded monthly, and you wish to refinance your loan at this new rate. a. How much will you be refinancing? Round your answer to the nearest dollar. Amount Refinancing: b. How much will your new monthly payment be after refinancing Round year answer to the nearest cent. New Monthly Payment: $

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