Five years ago you acquired a 30-year loan of $220,650, charging 5.8% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 30-year loans have dropped to 2.7% 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: $