Question
Five years ago you took out a 30-year mortgage with an APR of 6.5% for $200,000. If you were to refinance the mortgage today for
Five years ago you took out a 30-year mortgage with an APR of 6.5% for $200,000. If you were to refinance the mortgage today for 20 years at an APR of 4.25%, , how much would your monthly payment change by?
*A) The monthly payment will increase by $104.79.
*B) The monthly payment will decrease by $104.79
*C) The monthly payment will increase by $343.12.
*D) The monthly payment will decrease by $343.12.
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Bond Markets Analysis and Strategies
Authors: Frank J.Fabozzi
9th edition
133796779, 978-0133796773
