Leslie$$s condo is worth $$500,000.$ She owes $$300,000$ on her $6\%$ fixed$-$rate mortgage which

compounds semiannually that has three years remaining in its term. Leslie pays $$2,200$ per

month towards it$.$ She also has the following debts:

$$22,000$ unsecured line of credit at $7\%$ with a monthly payment of $$700.$

$$20,000$ on a student loan at $7\%,$ with a monthly payment of $$200.$

$$16,000$ credit card at $20\%$ with a monthly payment of $$280.$

She has already used up her prepayment privileges for the year. She can get a new mortgage

at$3\%$ or add funds to her existing mortgage at a rate of $4\%.$ Leslie has a conventional mortgage

charge against her property. Her lender charges $$300$ to discharge any mortgage and $$500$ to set

up new legal documents for any mortgage. Please find the answer to the following question:

$1.$ Find the amortization of the current mortgage.

$2.$ Find the prepayment penalty for the current mortgage. Calculate both penalty options.

Three$-$Months Interest? AND Interest Rate Differential?

$3.$ Find the total amount for the New Mortgage Amount?

$4.$ Find the payment if the penalty is paid and a new mortgage is set up$?$

$5.$ Find the New Mortgage amount if the mortgage is blended and extended?

$6.$ Find the interest rate if the mortgage is blended and extended?

$7.$ Find the payment if the mortgage is blended and extended?

$8.$ Determine the total current monthly debt costs?

$9.$ Find the total cost savings per month with the lowest Rat