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Q.12 Prepayments: Consider a 25year,$350,000 mortgage with a rate of 7.25%. Ten years into the mortgage, rates have fallen to 5.4% What would be the

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Q.12 Prepayments: Consider a 25year,$350,000 mortgage with a rate of 7.25%. Ten years into the mortgage, rates have fallen to 5.4% What would be the monthly saving to a homeowner for refinancing the outstanding mortgage balance at a lower rate

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