You are considering a thirty-year mortage with the following terms: What is the monthly mortgage payment? Monthly payment How much do you owe after 60 payments (i.e. 5 years of payments)? Mortgage owed: After making five years of payments, you decide to repay exist25,000 of the mortgage and refinance the remaining mortgage with a fifteen-year mortgage. 15-year mortgage rate (APR):3.60% What is the monthly mortgage payment for the refinanced mortgage? Monthly payment