In order to buy a vacation home, Neal and Lilly took out a 20-year mortgage for $150,000 at an annual interest rate of 12%. After 10 years, they refinanced the unpaid balance of $115,149 at an annual rate of 8%.

Use the table to find the monthly payments on the original loan; the monthly payments on the new loan; and the total amount saved on interest by refinancing.

The monthly payment of the original loan are $____

(Type an integer or a decimal.)

The monthly payment on the new loan $______

(Type an integer or a decimal.)

The total amount saved on interest by refinancing is $_____

(Type an integer or a decimal.)

Monthly Payment on a $1,000 loan