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please show the steps. preferably with a finance calculator You took out your home mortgage five years ago, and are currently considering refinancing into a
please show the steps. preferably with a finance calculator
You took out your home mortgage five years ago, and are currently considering refinancing into a loan at a lower rate and for a shorter term. Your original loan was for 30 years, at 6% interest on the $200,000 borrowed, and you pay monthly. The new loan you are considering will be for 15 years at a rate of 4%. Again, the payments will be monthly. What will your new payment be if you take on this new loanStep by Step Solution
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