Kelly and Tim Brown plan to refinance their mortgage for a lower interest rate. They will reduce

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Kelly and Tim Brown plan to refinance their mortgage for a lower interest rate. They will reduce their mortgage payment by $83 a month.

Their closing cost for refinancing will be $1,670. How long will it take them to recover the cost of refinancing?

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Personal Finance

ISBN: 978-1259720680

12th edition

Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart

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Question Posted: Aug 26, 2013 06:49 AM

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Kelly and Tim Brown plan to refinance their mortgage for a lower interest rate. They will reduce

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