Question: Please solve this please it's urgent 4. A borrower made a mortgage loan 5 years ago for $150,000 at 5.50% interest for 30 years, monthly

Please solve this please it's urgent 4. A borrower made a

Please solve this please it's urgent

4. A borrower made a mortgage loan 5 years ago for $150,000 at 5.50% interest for 30 years, monthly payments. The loan balance is now $138,691 and rates for this amount are currently 4.0% for 25 years. Origination fees and closing costs are $2,500 and closing costs are not financed by the lender. What is the effective cost of refinancing

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