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A mortgage of $169,000 was taken out when a 5 year mortgage interest rate was 3.2% compounded semi annually. 50 months later the 5 year

A mortgage of $169,000 was taken out when a 5 year mortgage interest rate was 3.2% compounded semi annually. 50 months later the 5 year mortgage interest rate has decrease to 2.5%.



What would be the new blend and extend mortgage rate if this mortgage is refinance for a new 5 year term?

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