Homework Help: Finance

Posted by Riley on Saturday, October 17, 2009 at 3:33pm.

you take out a $250,000, 30-year loan with monthly payments at a 6.5% interest rate. 4 years later, you refinance the remaaining balance at a 4% rate and pay a $1,000 fee. What is the present value of the savings from doing this?

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