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2 2 . Considering the following information, what is the net benefit of refinancing the loan? Expected holding period: 5 years Current loan balance: $
Considering the following information, what is the net benefit of refinancing the loan?
Expected holding period: years
Current loan balance: $
Current loan interest:
Current loan mortgage payment: $
Remaining term on the current mortgage: years
New loan interest:
New loan mortgage payment: $
New loan term: years
Cost of refinancing: $
Assume that the opportunity cost is the interest rate on the new loan
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