Assume a 16-year 250000 mortgage with a rate of 58 percent


Assume a 16-year, $250,000 mortgage with a rate of 5.8 percent. 9 years into the mortgage, rates have fallen to 4.8 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage balance at the lower rate?

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Financial Management: Assume a 16-year 250000 mortgage with a rate of 58 percent
Reference No:- TGS0982450

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