ITEMS SUMMARY 12. You have 3 attempts remaining, Six years ago you acquired a 15-year loan of $260,550, charging 4.4% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 15-year loans have dropped to 3.5% 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: $