Question
Hello, can you help with below? 18. Evaluating a Refinance Decision: Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest
Hello,
can you help with below?
18. Evaluating a Refinance Decision: Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $56 a month. Their closing costs for refinancing will be $1,670. How long will it take them to recover the cost of refinancing?
A:
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Handbook Of Global Financial Markets
Authors: Sabri Boubaker, Duc Khuong Nguyen
1st Edition
9813236647, 978-9813236646
