After owning his home for 4 years, Braxton wants to refinance his mortgage interest rate from 4.5% to 3.75%. If his current mortgage payment on his 20-year mortgage is $2,636.72 and he will refinance the unpaid balance for 30 years, what is Braxton's new monthly payment (in dollars)? 

Answer rating: 100% (QA)

To solve this problem we need to calculate Braxtons new monthly payment after refinancing his mortga... View the full answer