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c . How much should he be willing to pay to get out of a 1 4 percent mortgage and into a 1 0 percent
c How much should he be willing to pay to get out of a percent mortgage and into a percent mortgage with years remaining
on the mortgage? Assume current interest rates are percent. Carefully consider the time value of money. Disregard taxes. Do not
round intermediate calculations. Round your final answer to decimal places.
Amount to be paid
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