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a. What are the monthly payments on the original loan? $ (Round to the nearest cent as needed.) Suppose you take out a 40-yaar $200,000
Suppose you take out a 40-yaar $200,000 mortgage with an APR of You make payments for 3 years (36 monthly payments) and than consider refinancing the original loan. The new loan would have a term of 20 years, have an APR of 6.6%, and be in the amount of the unpaid balance on the original loan. (The amount smu borrow on the new loan would be used to pay off the balance on the original loan.) The administrative cost of taking out the second loan would be SISOO_ Use the information to complete parts (a) through (e) below a. What are the monthly payments on the original loan? (Round to the nearest cent as needed.)
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Public Finance In Canada
Authors: Harvey Rosen, Beverly George Dahlby, Roger Smith, Jean-Francois Wen, Tracy Snoddon
3rd Canadian Edition
0070951659, 978-0070951655
