You purchase a $225,000 town home and you pay 20% down. You obtain a 30 year fixed rate mortgage with an annual interest rate of 3.75%. After 20 years you refinance the mortgage for 10 years at a 3.25% annual interest rate. After you refinance what is the new monthly payment to the nearest dollar? 1.) 797 2.)814 3.) 932 4.)1,335 5.) 1,500