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Five years ago, you took out a $250,000, 30 year mortgage at 6 % interest with 1 point prepayment penalty. Today you can get a

Five years ago, you took out a $250,000, 30 year mortgage at 6 % interest with 1 point prepayment penalty. Today you can get a 25 year mortgage at 4.5% interest with 2 point fee upfront. Assuming you plan to be in your house another five years, determine the NPV of refinancing (ignoring option value)?

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