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Please solve and explain using financial calculator Two years ago you took out a mortgage at 4.5%. The initial balance of the loan was $200,000

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Two years ago you took out a mortgage at 4.5%. The initial balance of the loan was $200,000 and it was for 25 years ( 300 months.) Today, you observe that you could take out a new loan at 4.25% (with a 300 month term), but you would have to pay $5,000 in closing and other fees. a. What are your current monthly payments under the original mortgage? b. What is your current outstanding balance? How much would you have to borrow to refinance this loan? c. Assuming that you rolled the fees into the balance of the new loan, what would the monthly payment on this new loan be? d. Taking into account all of the fees, how much would your wealth change if you were to refinance? e. Should you refinance? Why or why not

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