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You purchase a $325,000 town home and you pay 25% down. You obtain a 30 year fixed rate mortgage with an annual interest rate of

You purchase a $325,000 town home and you pay 25% down. You obtain a 30 year fixed rate mortgage with an annual interest rate of 5.75%. After 5 years you refinance the mortgage for 25 years at a 5.1% annual interest rate. After you refinance what is the new monthly payment (to the nearest dollar)? (Using an HP 12c Platinum calculator - Step-by-Step)

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