A$1$

A

B

C

D

E

F

G

I

$4$

$5$

Suppose you purchased a house $4$ years ago and took out a mortgage for $$500,000$ with a $4\mathrm{.}5\%$ interest rate. The mortgage is a $30$ year mortgage with monthly payments. Today you can refinance the loan at a $3\mathrm{.}75\%$ interest rate for a fee of $$6,500.$ Assume that you would borrow just enough to repay the old loan and the cost of refinancing.

$8$

$9$

$\backslash$table$[[,$Annual Rate,Life $($In Years$),$Loan Amount,$\backslash$table$[[$Monthly$],[$Payments$]],$Periods Paid,Cost$],[$Initial Loan,$4\mathrm{.}50\%,30,$$$500,000\mathrm{.}00,,48,$$