When Gustavo and Serrana bought their home, they had a 5.2% loan with monthly payments of...

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When Gustavo and Serrana bought their home, they had a 5.2% loan with monthly payments of $870.60 for 30 years. After making 78 monthly payments, they plan to refinance for an amount that includes an additional $35,000 to remodel their kitchen. They can refinance at 4.9% compounded monthly for 25 years with refinancing costs of $625 included with the amount refinanced. (a) What is the length of the original loan term, in months? 78 X months What is the payoff amount for their original loan after making the 78 monthly payments? (Round your answer to the nearest cent.) $ 35000 What is the total cost of their remodel and refinancing fee? (Round your answer to the nearest cent.) $ 625 X Find the amount refinanced. (Round your answer to the nearest cent.) $ (b) Find their new monthly payment. (Round your answer to the nearest cent.) (c) How long will it take to pay off this new loan if they pay $1,200 each month? (Round your answer up to the next whole number.) payments When Gustavo and Serrana bought their home, they had a 5.2% loan with monthly payments of $870.60 for 30 years. After making 78 monthly payments, they plan to refinance for an amount that includes an additional $35,000 to remodel their kitchen. They can refinance at 4.9% compounded monthly for 25 years with refinancing costs of $625 included with the amount refinanced. (a) What is the length of the original loan term, in months? 78 X months What is the payoff amount for their original loan after making the 78 monthly payments? (Round your answer to the nearest cent.) $ 35000 What is the total cost of their remodel and refinancing fee? (Round your answer to the nearest cent.) $ 625 X Find the amount refinanced. (Round your answer to the nearest cent.) $ (b) Find their new monthly payment. (Round your answer to the nearest cent.) (c) How long will it take to pay off this new loan if they pay $1,200 each month? (Round your answer up to the next whole number.) payments