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A homeowner bought a property for $300.0005 years ago, He got a $250,000 loan at 9 for 30 years, the loan require monthly payments and

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A homeowner bought a property for $300.0005 years ago, He got a $250,000 loan at 9 for 30 years, the loan require monthly payments and is fully amortized. Currently mortgage rate for 25 - year loan is at 7.5%. There is 2% origination fee charged on the new loan amount. All payments are monthly. What is the return on the investment (2\%5 of the loan amount to refirance the moctgagel? Assume that the homeowner will stay for only 4 more years? 59.02% 68.91% sin. 5 62.517

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