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Posted on Jul 28, 2024

Your friend bought a home and the amount he financed with a 3 0 year mortgage was $ 1 2 5 , 0 0 0

Your friend bought a home and the amount he financed with a

30

year mortgage was $

125, 000 .

Due to his credit and the economy the rate on the mortgage is

4.29 % .

After

180

months of payments he is considering refinancing the mortgage. What is the amount he would need to borrow on the new mortgage?

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