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You borrowed $150,000 five years (60 months) ago, at 5% per year, compounded monthly, with monthly payments. You are refinancing the loan today at 4%,
You borrowed $150,000 five years (60 months) ago, at 5% per year, compounded monthly, with monthly payments. You are refinancing the loan today at 4%, over the remaining 25 years (300 months), also with monthly payments. To the nearest dollar, what is your NEW mortgage payment? $805 O $537 O $688 $727 O $658
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