If mortgage rates drop, many homeowners decide to refinance to lower their monthly mortgage payments. Please calculate the monthly savings for a 20-year $300,000 mortgage when rates drop from 7% to 4.5%. Suppose you graduate college and land a job as an investment banker. giverra $20,000 signing bonus, which you immediately invest in the market. After year 1, you decide to save an additional $10,000 per year. Your investments average 10% return for the first 10 years. After year 5, your grandmother gives you a $15,000 gift which you also include in your investments/savings. After 10 years, how much are your savings / investments worth now? (Include the gift and returns on investments)