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Six years ago you acquired a 15-year loan of $270,050, charging 4.6% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates
Six years ago you acquired a 15-year loan of $270,050, charging 4.6% annual interest, compounded monthly, and requiring monthly payments. At this time, interest rates on 15-year loans have dropped to 3.4% APR. compounded monthly, and you wish to refinance your loan at this new rate. a. How much will you be rehnancing Round your answer to the nearest dollar Amount Refinancing h. How much will your new monthly payment be after refinancing Round year answer to the nearest cent New Monthly Payment: $ 2
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