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You purchased a house five years ago and borrowed $300,000 from a bank to buy the...

You purchased a house five years ago and borrowed $300,000 from a bank to buy the house.
The loan you used has 300 more monthly payments of $1,610 each, starting next month, to pay off the loan.
You can take out a new loan for $270,000 and pay off the original loan. The new loan has an interest rate of 4% APR compounded monthly , with 300 more payments, starting next month to pay off this new loan.
If your investments earn 2.75% APR compounded monthly , how much will you save in present value terms by using the new loan to pay-off the original loan?

$40,069
$40,847
$42,072
$37,768
$38,901
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