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1. assume the current data is January 1, 2020. the original 30-year mortgage was taken out on January 1, 2014, so 72 regular payments have

1. assume the current data is January 1, 2020. the original 30-year mortgage was taken out on January 1, 2014, so 72 regular payments have already been made. the original loan balance was $200000, the interest rate on original mortgage is 4.5%. using a 4% discount rate, the difference in the present value of the January 1,2025 principal amounts remaining between the new mortgage and the original mortgage is

A. 5217.84

B. 4481.36

C. 4602.75

D. 5033.52

E. 4815.98

F. 5437.01

2. Assume the current date is January 1, 2020. So, if you are certain that you will see your house on January 1, 2015. then the math suggests that you should refinance your mortgage if the refinance closing costs are less than:

A. 3944.61

B. 3883.57

C. 13862.98

D. 13843.69

E. 12952.14

F. 3928.86

G. 3776.65

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