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You currently have an after-tax mortgage payment of $1050 per month. If you refinanced, your new mortgage payment over 15 years would be $850, after

You currently have an after-tax mortgage payment of $1050 per month. If you refinanced, your new mortgage payment over 15 years would be $850, after tax, per month. Refinancing will cost a total of $9,400 (after tax) in various costs. Should you refinance? The interest rate is 12% per year. Assume compounding is monthly.

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