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Suppose that when you refinance you want to take out $36,000 in equity to remodel. If you plan to keep the financing for eight more
Suppose that when you refinance you want to take out $36,000 in equity to remodel. If you plan to keep the financing for eight more years, what is the NPV of refinancing right now? You would pay your financing costs out-of-pocket and the new loan would have a 25-year amortization.
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