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Too late no one answer on time!!! PLEASE DON'T ANSWER******** Aracely got a 70 year FRM with annual payments equal to $22,000 per year. After
Too late no one answer on time!!! PLEASE DON'T ANSWER******** Aracely got a 70 year FRM with annual payments equal to $22,000 per year. After 5 years of payments Ann will refinance the balance into a 48 year FRM with annual payments equal to $11,000 per year. Refinancing will cost Ann $1,500. Ann will prepay the new loan 3 years after refinancing. She will save $4,000 on her loan balance when she prepays. What is Ann s annualized IRR from refinancing?
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