Ten years ago you borrowed $300,000 to finance the purchase of a $350,000 house. The interest rate on the old mortgage is 7%. Payment terms are being made monthly to amortize the loan over 30 years. You have found another lender who will refinance the current outstanding loan balance at 4.5% with monthly payments for 20 years. The new lender will charge one discount point on the loan. Other refinancing costs will equal $8,000. There are no prepayment penalties associated with either loan. You feel the appropriate opportunity cost to apply to this refinancing decision is 4.5%. What should be the monthly payment on the new loan (answers rounded to hundreds)? Excel a) $1,300 b) $1,600 Oc) $1,900 d) $2,000 e) $2,200