Which of the following terms refers to a fixed amount of money paid or received at the beginning of every recurring period a series of equalumowums, an example would be rental payments)? ordinary annuity present value O future Value annuity due Suppose that you are in the process of deciding whether or not to refinance your feed rate mortgage at a lower rate and you are interested in using the payback period rule of thumb to help you in your decision. Your lender has informed you that the cost of refinancing would be 54. 200. You have a payment of 5% based on your loan balance of $225,000. If your present monthly mortgage payment was $1,650, and your new money or payment would be $1,250 after refinancing, determine the payback period 38.63 months 158 months 10.5 months 28.13 months