A house was purchased 5 years ago with $250,000, 9%, 20-year loan. Thinking of refinancing, the borrower finds the current interest rate on 25-year loan is 7.5%. What is the total savings (PV of all...

A house was purchased 5 years ago with $250,000, 9%, 20-year loan. Thinking of refinancing, the borrower finds the current interest rate on 25-year loan is 7.5%. What is the total savings (PV of all payment reductions) from the refinance if he plans to sell the house 5 years from now?
A. 11,834.58
B. 13,325.46
C. 14,526.84
D. 15,117.13