You took out a mortgage $($term loan$)$ with the following terms: Amount: $320,000$; Term $($years$)$: $30$; interest rate monthly: $0\mathrm{.}25\%$; monthly payment: $1,349\mathrm{.}13.$ Q$1)$ After $13$ years, interest rates have fallen to $0\mathrm{.}05\%($monthly$).$ What is the outstanding balance at the end of year $13?$ Q$2)$ What is your new monthly payment if you refinance now into a mortgage over $204$ months and you have to pay $$8,000$ to refinance the mortgage? Q$3)$ What is the present value of your savings from refinancing?