Question: please answer asap Question 36 (5 points) #37 A borrower made a mortgage loan 15 years ago for $160,000 at 7.25% interest for 30 years.

please answer asap

Question 36 (5 points) #37 A borrower made a mortgage loan 15 years ago for $160,000 at 7.25% interest for 30 years. The loan balance is now $119,566.70 and rates are currently at 6.0% for 15 years. Origination fees, points and closing costs are $4,566.70 all of which are to be paid out of pocket by the borrower. What is the effective cost (EC) of refinancing or what is the return on your [refinancing) investment (ROI): 5.21% EC or 15.64% ROI 5.85% EC or 17.45% ROI 6.15% EC or 19.00% ROI 6.95% EC or 21.22% ROI 6.61% EC or 20.64% ROI

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