Question: A borrower is repaying a $19000 loan at 9.2%/year compounded monthly with monthly payments over 26 years. Just after the 78th payment he has the

A borrower is repaying a $19000 loan at 9.2%/year compounded monthly with monthly payments over 26 years. Just after the 78th payment he has the loan refinanced at 7.2%/year compounded monthly. If the number of payments remains unchanged, what will be the new monthly payment?

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