Consider a 25-year, $180,000 mortgage with a rate of 7.25 percent. Eight years into the mortgage, rates

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Consider a 25-year, $180,000 mortgage with a rate of 7.25 percent. Eight years into the mortgage, rates have fallen to 6.6 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage balance at the lower rate?

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Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Question Posted: Sep 19, 2012 05:12 AM

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Consider a 25-year, $180,000 mortgage with a rate of 7.25 percent. Eight years into the mortgage, rates

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Fundamentals of Investments Valuation and Management

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