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Question 7 1 pts Consider a 2 0 - year mortgage for $ 1 7 8 , 1 6 5 at an annual interest rate

Question 7
1 pts
Consider a 20-year mortgage for $178,165 at an annual interest rate of 5%. After 8 years, the mortgage is refinanced to an annual interest rate of 3%. What are the monthly payments after refinancing?
Round your answer to the nearest dollar.
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