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On May 1 2014 a family had taken a $195.000 20-year mortgage at 4.75% per year compounded monthly Immediately after her November 30th 2020 payment,

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On May 1 2014 a family had taken a $195.000 20-year mortgage at 4.75% per year compounded monthly Immediately after her November 30th 2020 payment, they decided to refinance the remaining balance at 2.5% per year compounded monthly for years Calculate the old and new monthly payments and the total amount of interesaved with refinancing, assuming to the mortgage will be paid of completely Attach File fire My Computer

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