Five years ago, you acquired a 3 0 - year loan of $ 1 3 0 , 7 5 0 , charging 6 . 6
Five years ago, you acquired a year loan of $ charging annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on year loans have dropped to APR, compounded monthly, and you wish to refinance what you still owe with a new loan at this new rate. a How much in dollars will you be refinancing? Round your answer to the nearest dollar. $ b How much in dollars will your new monthly payment be after refinancing? Round your answer to the nearest cent. $
