Question: Step (1) Solve all these problems using Microsoft-provided Excel Functions Step (2) Solve all these problems using VBA functions developed by you. Answers in Steps

Step (1) Solve all these problems using Microsoft-provided Excel Functions Step (2) Solve all these problems using VBA functions developed by you. Answers in Steps (1) and (2) should match.

  1. Exactly six years ago, Cathy bought her dream home using a 30-year mortgage with an APR of 6.5% on a $400,000 loan. She has been making her monthly payments. Today, she came to know that her bank is offering a special mortgage refinance offer at an APR of 4.25% on 20-year mortgages.

    How much will Cathys monthly payment decrease (or increase), if she decides to refinance today?

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