You purchased a house five years ago and borrowed $600,000 . The loan you used has 300 more monthly payments of $2,864 each, starting next month, to pay off the loan. You can take out a new loan for $542,685 at 3.00% APR compounded monthly , with 300 more payments, starting next month to pay off this new loan. and pay off the old loan. If your investments earn 3.00% APR compounded monthly , how much will you save in present value terms by using the new loan to pay-off the original loan? There may be rounding in this case , so pick the closest answer.

Group of answer choices

$62,455

$57,748

$64,328

$61,265

$59,481