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Five years ago, Diane secured a bank loan of $360,000 to help finance the purchase of a loft in the san franosco Bay arca. The
Five years ago, Diane secured a bank loan of $360,000 to help finance the purchase of a loft in the san franosco Bay arca. The term of the mortgage mas 30 year; and the interest rate was 64y year her property. (found your answers to the nearest cent.) (a) What is Diane's current monthly mortgage payment? 5 (B) What is Diane's current outstanding principal? (c) If Diane decides to refinance her property by securing s. Jo-pear home mortgage loan in the amount of the current outstanding principal at the prevaiing interest rate of 3.5.hiyes compounded monthly, what wia be her monthly mortgage payment? x (d) How much less will Diane's monthly mortgage payment be if she refinances
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