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March 30, 2015

Homework Help: Math

Posted by wen on Monday, December 12, 2011 at 10:58am.

A 30 year fixed rate $100,000 mortgage loan . The interest rate is 7.5% compounded monthly.After 20 years the bank is making an offer to refinance at a lower rate of 4.5% . The estimated closing costs are $3,000?

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