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Suppose that 1 0 years ago you bought a home for $ 1 1 0 , 0 0 0 , paying 1 0 % as
Suppose that years ago you bought a home for $ paying as a down payment, and financing the rest at interest for years. Since the interest rates have dropped, you consider refinancing your mortgage at a lower rate. If you took out a new year mortgage at for your remaining loan balance, what would your new monthly payments be
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