Suppose that you are currently making monthly payments on a $225,120 35-year mortgage at 5.64% interest compounded monthly. For the last 9 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 30-year mortgage that has an interest rate of 4.95% compounded monthly. Note that the lender of the new loan has a closing cost fee of $1,500 (for title insurance, home appraisal costs, etc.) for the new (refinanced) mortgage. The lender stipulates that closing cost must be paid in cash and cannot be part of the new loan. You are to determine whether you would save or lose money, in interest, if you were to refinance your home. Take the closing costs into account when determining if you would save or lose money