years ago, you acquired a 25-year loan of $190,200, charging 6.3% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 15-year loans have dropped to...

Extracted text: years ago, you acquired a 25-year loan of $190,200, charging 6.3% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 15-year loans have dropped to 2.5% APR, compounded monthly, and you wish to refinance Five what you still owe with a new loan at this new rate. a. How much will you be refinancing? Round your answer to the nearest dollar. Amount Refinancing: $ b. How much will your new monthly payment be after refinancing? Round your answer to the nearest cent. New Monthly Payment: $|