Madeline and nick took out a 30shyyear mortgage for 160000


Madeline and Nick took out a 30­year mortgage for $160,000 at 9.8% interest compounded monthly. After they had made 12 years of payments, they decided to refinance the remaining loan balance for 25 years at 7.2% interest, compounded

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Business Economics: Madeline and nick took out a 30shyyear mortgage for 160000
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