A homeowner took out a 25-year fixed-rate mortgage of $85,000. The mortgage was taken out 10 years ago at a rate of 7.6 percent. If the homeowner refinances, the charges will be $1,650. What is the highest interest rate at which it would be beneficial to refinance the mortgage? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. APR %

A homeowner took out a 25 -year fixed-rate mortgage of $85,000. The mortgage was taken out 10 years ago at a rate of 7.6 percent. If the homeowner refinances, the charges will be $1.650. What is the highest interest rate at which it would be beneficial to refinance the mortgage? Note: Do not round intermediote colculations. Enter your answer as a percent rounded to 2 decimol places