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Consider a 2 - year, fixed rate mortgage with an original balance of $ 3 3 , 0 0 0 and an interest rate of
Consider a year, fixed rate mortgage with an original balance of $ and an interest rate of Suppose right after the month payment has been made, the interest rate declines by What would be the new monthly payment if the homeowner were to refinance with a new year loan at the new rate?
Round your answer to decimal places nearest cent
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