The mortgage on your house is five years old. It required monthly payments of $1,450, had an original term of 30 years, and had an interest rate of 9% (APR) in the intervening ve years, were have fallen and so you have decid refinance that is you will roll over the outstanding balance into a new mortgage. The new mortone has 30-year term requires monthly payments, and has an interest rate of 6.125% (APR) a. What monthly repayments will be required with the new loan? b. If you still want to pay of the mortgage in 25 years, what monthly payment should you make after you refinance? c. Suppose you are willing to continue making monthly payments of $1,450. How long will it take you to pay off the mortgage her refinancing? d. Suppose you are willing to continue making monthly payments of $1,450 and want to pay of the mortgage in 25 years. How much additional cash can you borrow today as part of the refinancing? What monthly repayment will be required with the new loan? The monty repayments with the new loan will be found to the nearest cent) If you will want to pay of the mortgage in 25 years, what monthly payment should you make after you refinance? he monthly repayments will be Round to the nearestent) Suppote you are willing to continue making monthly payments of $1.480. How long will it take you to pay of the mortgage after refinancing? se approximately months (Round to the nearest integer) Suppose you are willing to contine making monthly payments of $150 and want to pay of the more in 25 years. How much additional cash can you borrow today as part of the refinancing? can keep (Hound to the nearestar) Question Help The more on your house is five years old. It required money payments of $1,450, had an original term of 30 years, and had an interest rate of % (APR) in the intervening five years, interest rates have fallen and so you have decided to refinance that is, you will rol over the outstanding balance into a new mortonge. The new mortgage has year term require monthly payments, and has an interest rate of 6. 125% (APR). b. Wyou still want to pay off the mortone in 25 years, what monthly payment should you make after you refinance? 6. Suppose you are willing to continue making monthly payments of $1,450. How long will take you to pay off the mortgage after refinancing 4. Suppone you are willing to continue making monthly payments of $1.450 and want to pay of the mortgage in 25 years. How much that cash can you borrow today as part of the refinancing What monthly repayments wil be required with the new loan? The monthly repayments with the new loan will be $(Round to the nearest cent) b. If you still want to pay off the mortgage in 25 years, what monthly payment should you make her you refinance? The morty repayments will be $ Round to the nearest cant) 6. Suppose you are willing to continue making monthly payments of $1,450. How long will take you to pay of the mortgage after refinancing? * will take approximately months. (Round to the nearest Integer) d. Suppose you are willing to continue making monthly payments of $1,450 and want to pay off the mortgage in 25 years. How much additional cash can you borrow today as part of the refinancing
