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Rick has just inherited some money and would like to pay off the balance of his mortgage ($150,000).His mortgage rate is 5.2% and there are

Rick has just inherited some money and would like to pay off the balance of his mortgage ($150,000).His mortgage rate is 5.2% and there are 63 months remaining on the term.A similar term now has a rate of 4.3%.Calculate the penalty he would pay using the IRD method.

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