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A borrower plans to refinance their mortgage to obtain lower a interest rate. The mortgage monthly payment is reduced by $56 a month. The closing

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A borrower plans to refinance their mortgage to obtain lower a interest rate. The mortgage monthly payment is reduced by $56 a month. The closing costs for refinancing will be $1,670. How long will it take them to recover the cost of refinancing? In other words, what is the breakeven point in months? Hint: Round up to the next month. Give your answer in months, not years. Question 9 6pts

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