Suppose you take out a 45 year 175,000 mortgage with an APR of 6%. You make payments for 2 years and then consider refinancing the original loan. The new loan would have a term of 20yrs,have an APR of 5.8%, and be in the amount of the unpaid balance on the original loan.The amount you borrow on the new loan would be used to pay off the balance on the original loan.The administrative cost taking out the second loan would be 1800.

es related to Suppose you take out a 45-year $175 con ortgage with an APR of 6%. You make payments for 2 y nthly payments) and then consider refinancing the orig the new loan would have a term of 20 years, have an AF and be in the amount of the unpaid balance on the origin The amount you borrow on the new loan would be used I the balance on the original loan.) The administrative co out the second loan would be $1800. Use the informati ete parts (a) through (e) below. e mortgage has a term of 15 years and a payment of $1,000, what is the loan ulator es related to Suppose you take out a 45-year $175 con ortgage with an APR of 6%. You make payments for 2 y nthly payments) and then consider refinancing the orig the new loan would have a term of 20 years, have an AF and be in the amount of the unpaid balance on the origin The amount you borrow on the new loan would be used I the balance on the original loan.) The administrative co out the second loan would be $1800. Use the informati ete parts (a) through (e) below. e mortgage has a term of 15 years and a payment of $1,000, what is the loan ulator