How much will Dani save by refinancing to a 15-year loan with a lower rate after five years?

Scenario 1:

Dani finances a $300,000 home loan with a 30-year fixed rate loan with a 5% interest rate. The mortgage payment (principal and interest only) is $1,610 per month for 30 years.

Scenario 2:

In the second scenario, Dani decides to refinance after five years. In this scenario Dani will pay $1,610 per month for the first 5 years, then refinance to a 3%, 15-year fixed loan and pay $1,902 per month for the last 15 years.

The closing costs for the refinance are $2,000.

Hint: You only need the numbers presented here to solve this problem. Write out your work for partial credit consideration. Be sure to subtract the $2,000 refinance cost as a last step.