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Hi. Can you please help me solve these questions in detail? The answer for 4 is $1283.29, the answer for question 5 is $1,502.51 and

Hi. Can you please help me solve these questions in detail? The answer for 4 is $1283.29, the answer for question 5 is $1,502.51 and for question 6 is $68,336; yes.Thank you in advance!!

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4. The Sanchez Family is considering refinancing the family home. Currently, the mortgage terms and conditions include an interest rate of 5.87%, compounded monthly, and there are 22 years left on a 30-year loan. The remaining principal is equal $190,000. With these terms, what is the monthly mort- gage payment? 5. In reference to problem 4, the Sanchez family has an opportunity to refinance the home. The mortgage lender has offered a 5% interest rate, compounded monthly, on a 15-year loan. The principal amount need to finance would be $190,000. With these terms, what would be the monthly mortgage payment? 6. Also in reference to problem 4, how much interest would the Sanchez family save if they went with a 15-year, 5% interest, mortgage loan? Do you think the Sanchez family should go with the 15-year loan? first Freshman vear of university study at Whats

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