Chelsea is currently paying down a 30-year mortgage. She bought the house 10 years ago for $270,000.00 and is paying 7.25% interest, compounded monthly. She is considering refinancing to a 15-year mortgage at 3.25% interest, compounded monthly.

AHow much are her current monthly payments?

BHow many years are remaining on her current loan?

years

CWhat is the outstanding balance on her current loan?

DIf she refinances the entire outstanding balance, how much will her new monthly payments be?