please dont solve it with excel. write solution in paper, thank you very much. Question is not incomplete sir, someone has solved it with excel but tbh i didnt understand it at all

3. A mortgage borrower has an outstanding debt at interest rate of J12= ....% and ... $monthly payments for 69 months remaining today. Another bank is offering the same monthly payments but for 63 months only at a lower interest rate. For the refinancing, borrower has to pay ..... $ expense today. Decide if the borrower should refinance the debt or not by showing the difference of discounted values of two alternatives. (hint: you must use the same interest rate for discounting two options to be able to compare) Determine the values in the spaces given and solve them step by step. 3. A mortgage borrower has an outstanding debt at interest rate of J12= ....% and ... $monthly payments for 69 months remaining today. Another bank is offering the same monthly payments but for 63 months only at a lower interest rate. For the refinancing, borrower has to pay ..... $ expense today. Decide if the borrower should refinance the debt or not by showing the difference of discounted values of two alternatives. (hint: you must use the same interest rate for discounting two options to be able to compare) Determine the values in the spaces given and solve them step by step