The Smiths are refinancing their home mortgage to a $15-$year loan at $5\mathrm{.}25\%$ annual interest

compounded monthly. Their outstanding balance on the loan is $$95,000.$

a$.$ Under their current loan, the Smiths' monthly mortgage payment is $$1104.$ How

much will the Smiths be saving in their monthly mortgage payments by

refinancing? $($Round your answer to the nearest dollar.$)$

b$.$ How much interest will the Smiths pay over the life of the new loan?