Question: Be sure to show step by step explanation by using inputs ( NV, I,pmt,Fv,I/y) financial calculator Considering the following information, what is the NPV if

Be sure to show step by step explanation by using inputs ( NV, I,pmt,Fv,I/y) financial calculator

Considering the following information, what is the NPV if the borrower refinances the loan? Expected holding period: 3 years, Current loan balance: $100,000; Current loan interest: 7%; Current loan mortgage payment: $898.33; Remaining term on current mortgage: 15 years; New loan interest: 5.5%; New loan mortgage payment: $817.08; New loan term: 15 years; Cost of refinancing: $5,000. Assume that the opportunity cost is the interest rate on the new loan (5.5%)

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