Mathematics, 18.02.2021 23:50 getse61
In order to buy a vacation home, Neal and Lilly took out a 20-year mortgage for $200,000 at an annual interest rate of 8%. After 10 years, they refinanced the unpaid balance of $138,042 at an annual rate of 5%. Use the table to find the monthly payments on the original loan; the monthly payments on the new loan; and the total amount saved on interest by refinancing.
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In order to buy a vacation home, Neal and Lilly took out a 20-year mortgage for $200,000 at an an...
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