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Consider a 20-year mortgage for $397,480 at an annual interest rate of 5.4%. After 12 years, the mortgage is refinanced to an annual interest rate

Consider a 20-year mortgage for $397,480 at an annual interest rate of 5.4%. After 12 years, the mortgage is refinanced to an annual interest rate of 2.9%. What are the monthly payments after refinancing?

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