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A homeowner took out a 25 -year foxed-rate mortgage of 5190.000 . The mortgage was taken out 9 years ago at a rate of 69

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A homeowner took out a 25 -year foxed-rate mortgage of 5190.000 . The mortgage was taken out 9 years ago at a rate of 69 percent if the homeowner refinances, the charges wal be 53,200 . What is the highest interest rate at which it would be beneficial to refinance the mortgage? (Do not round intermediate calculations. Enter your answer as o percent rounded to 2 decimal places.)

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