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Suppose that you purchased a house with a $120,000 mortgage (30-year fixed at 6%) five years ago. The loan balance is currently $111,665 and you

  
Suppose that you purchased a house with a $120,000 mortgage (30-year fixed at 6%) five years ago. The loan balance is currently $111,665 and you can refinance that amount at 5% with another 30-year fixed rate mortgage. What would be the difference in the monthly payment? $120.02 $133.59 $147.02 $160.28 $173.40 10 pts

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