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Posted on Jun 27, 2024

Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $170 a month.

Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $170 a month. Their closing costs for refinancing will be $2,120.

How long will it take them to recover the cost of refinancing?

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