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Question 1) you purchase a house for (Column B) using a 30 -year mortgage that makes monthly payments with an annualized interest rate of (Column

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Question 1) you purchase a house for (Column B) using a 30 -year mortgage that makes monthly payments with an annualized interest rate of (Column C) Calculate: How much are the monthly mortgage payments? After (Column D) number of years you refinance the remaining balance at a new lower interest rate (Column E) Calculate: How much are the new monthly mortgage payments? Calculate: Explain what happened to the value of money? Display: Tables/charts with given data and answers

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