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this is a practice exam i just wsnt to see the work for the correct answer 8. You borrowed $100,000 to purchase your $125,000 condo

this is a practice exam i just wsnt to see the work for the correct answer
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8. You borrowed $100,000 to purchase your $125,000 condo a while back. You borrowed the money at 7%, with a 30 -year amortization period. Ten years went by, and you decided to refinance the remaining balance of your mortgage at 5% (again, with monthly payments) over the remaining 20-year amortization period. What was your new mortgage payment after you refinanced? (to the nearest doll or so) A) $461 B) $832 C) $665 D) $708 E) $566

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