Question: QUESTION 6 (Quantitative Question) You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly

QUESTION 6 (Quantitative Question) You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is 52,353 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6.375 APR, compounded monthly a. What was the amount of the original mortgage loan (in 51? b. How much do you owe on the mortgage today in $1? Round your answers to the nearest dollar and write them both in the space provided and on the empty pages on which you will show your work (including timelimes)

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