Question: I need this computer typed so I can read it and please show steps of how you got the answers. thanks! 3 years ago John

I need this computer typed so I can read it and please show steps of how you got the answers. thanks!

3 years ago John borrowed $350,000 on an interest only loan at 5%. He now seeks to refinance with a $400,000 loan at 4% with no closing costs. What is the amount of incremental loan proceeds? 3 years ago John borrowed $350,000 on an interest only loan at 5%. He now seeks to refinance with a $400,000 interest only loan at 4% with no closing costs. What is the difference in the monthly loan payment? 3 Years ago John borrowed $350,000 with payments calculated on an 30 year payout at 5%. He now seeks to refinance with a $400,000 loan at 4% on a with 3 points. What is the amount of incremental loan proceeds? PV

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