You purchase a $325,000 house and pay 25 percent down. You obtain a 30-year fixed-rate mortgage with an annual interest rate of 5.75 percent. After five years you refinance the mortgage for 25 years at a 5 percent annual interest rate. After you refinance, what is the new monthly payment to the nearest dollar)? $1,422 $1.401 $1.366 $1.335 $1.322