2: Problem 14 Previous Problem List Next (1 point) Mr. Smith bought a $ 460000 house 8 years ago. The house is now worth $ 828000 . Originally, the house was financed by paying 20% down with the rest financed through a 15-year mortgage at 5% interest. After making 96 monthly house payments, Mr. Smith is now in need of cash, and would like to refinance the house. The finance company is willing to loan 100% of the current value of the house amortized over 20 years at 3% interest. How much cash will the owner receive after paying the balance of the original loan? Amount of cash obtained = $ If he uses all of the available cash for something other than investing in his home, by how much will his monthly payment increase? Increase in monthly payment = $ Note: You can earn partial credit on this