Question $1$

Suppose you purchased a house $3$ years ago and took out a mortgage for $$200,000$ with a $7\mathrm{.}5\%$ interest rate. The mortgage is a $30$ year mortgage with monthly payments. Today you can refinance the loan at a $6\mathrm{.}5\%$ interest rate for a fee of $$7,500.$ Assume that you would only refinance enough to repay the old loan and the cost of refinancing.

$\backslash$table$[[,$Annual Rate,Life $($In Years$),\backslash$table$[[$Loan$],[$Amount$]],\backslash$table$[[$Monthly$],[$Payments$]],$Periods Paid,Cost$],[$Initial Loan,$7\mathrm{.}50\%,30,$$$200,000\mathrm{.}00,,36,$$