Need help with a mortgage refinancing question.

Suppose you purchased you first house 2 years ago and took out a mortgage for $160,000 with a 6.25% interest rate. The mortgage is a 30 year loan with monthly payments. Today you can refinance the loan at a 5.50% interest rate for a fixed fee of $5,000. Assume that you would only refinance enough to repay the old loan and the cost of refinancing A How much would you still owe on the loan after 2 years? Balance of old loan today B - Calculate the amount of the new loan and monthly payments of each loan: Hint: Utilize the CUMPRINC formula here! Total Loan Monthly Periods Annual RateLife (In Years) Cost Amount Payments Paid 24 625% 5.50% 30 30 Initial Loan S160,000.00 Refinancing S 5,000 C - Would you refinance today? Old Loarn New Loan PV (of monthly payments) NPV of Refinancing Refinance? D - Now, consider you are at the end of year 2, as is the case above, and you expect to move in 4 years time, would you want to refinance? Year 4 Months 48 Time Till Move Old Loarn New Loan Loan Balance at Move PV at move (consider balance and monthly payments) NPV of Refinancing Refinance