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8 You have decided to refinance your mortgage. You plan to...

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Finance

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You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $2765, and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly 4 years and 8 months old. You have just made your monthly payment. The mortgage interest rate is 6.434% (APR with semi-annual compounding). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.) - The monthly discount rate is %. (Round to five decimal places.)

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