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orange cells with formulas please!!!!!!! Q4 Suppose you purchased a house 6 years ago and took out a mortgage for $200,000 with a 7.6% interest

orange cells with formulas please!!!!!!! image text in transcribed
Q4 Suppose you purchased a house 6 years ago and took out a mortgage for $200,000 with a 7.6% interest rate. The mortgage is a 30 year mortgage with monthly payments. Today you can refinance the loan at a 5.6% interest rate for a fee of $2,000. Assume that you would borrow just enough to repay the old loan, and you woud pay the fee out of pocket. Periods Paid Fee Monthly Annual Rate Life (In Years) Loan Amount Payments 7.6% 30 200,000.00 1,412.15 5.6% 30 Initial Loan Refinancing 72 0 2,000.00 If you refinance at the new rate, how much will you save per month? Monthly Savings If you expect to move in 3 years, would you want to refinance? Years Months 36 Time Till Move 3 Old Loan New Loan Loan Balance at Move NPV of Refinancing Refinance

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