Question An existing mortgage has interest rate of 7.20%, fixed monthly payments, remaining term of 22 years, and current balance of S160,600. If the refinancing cost is 4% of the outstanding mortgage balance, what interest rate on a new fixed-rate 22-year loan will result in the implied annual savings rate of 10% assuming that the loan is not to be prepaid until the end of its term? OA 9.56% O 6.95% OC 6,59% OD 7.63% O 5.96% OF 5.69% OG 6.69% Mown so the next question prevents changes to this answer Question 4 of 8 Question An existing mortgage has interest rate of 7.20%, fixed monthly payments, remaining term of 22 years, and current balance of S160,600. If the refinancing cost is 4% of the outstanding mortgage balance, what interest rate on a new fixed-rate 22-year loan will result in the implied annual savings rate of 10% assuming that the loan is not to be prepaid until the end of its term? OA 9.56% O 6.95% OC 6,59% OD 7.63% O 5.96% OF 5.69% OG 6.69% Mown so the next question prevents changes to this answer Question 4 of 8