You purchased your current home with a loan of $400,000 exactly seven years ago. At that time you secured a 6.04% interest, 30-year mortgage. You are now considering refinancing the outstanding loan balance today using North Shore Bank as your lender with a 15-year mortgage – please go to Bankrate.com to find North Shore Bank’s 15 year rates and lender fees and provide date you accessed Bankrate.com. What is your cost of funds on the new loan if you plan to prepay it at the end of year five?