Use the following information to answer the next four questions: You purchased a house for $535,000 exactly 9 years ago using a 75% LTV fixed rate mortgage amortized over 30 years (monthly payments) at 6.25%. This loan had a 5% prepayment penalty associated with it. You are thinking about refinancing your outstanding balance and have decided to pay any costs incurred in the process out of pocket (i.e. loan costs will not be rolled into the loan amount). The best rate currently available is 2.25% for 30 years with monthly payments. This new loan has a 1% origination fee, 3 discount points, and no prepayment penalty. You intend to remain in the home for 11 more years. Question 27 4 pts Compute the total costs to refinance. $13,849.75 $17,312.19 $24.722.65 $31.161.94 $40,599.75 Question 28 3 pts Compute the total payoff on the old mortgage at the end of year 20. O $231,037.70 $234,704.96 $297,815.33 O $346,243.75 $363,555.94 action 20 2nte 3 pts Question 29 Compute the payment on the new mortgage. O $1.270.56 $1,323.50 $1,389.68 O $1,725.32 O $1,837.84 D Question 30 3 pts Compute the return to refinancing. 24.76% 28.33% 32.6196 O 37.94% 43.59%