I have a chance to refinance by taking out another 15 year $99,200 loan with a 4.75% APR, compounded monthly. (Note the principle is different because new closing costs ($3,200) have been rolled into the remaining principle of the existing loan ($96,000), so that no out of pocket expenses are incurred).

Use the excel functions to solve.

Please show the excel functions that are being used for each part

Question 3: What is the new P&I payment?

A_B =

Question 4: What is the present value and future value of this new loan (this is an easy question)?

P_B =

F_B =

Question 5: What will be the present value and future value of each loan in two years (24 months)? Keep in mind that 12 months had already been paid on the first option.

P_A-2 =

F_A-2 =

P_B-2 =

F_B-2 =