Question: Need help.... 10 points Save Answer You purchase a home for $350,000. You put 15% down as a down payment. The rest of the house

Need help....

10 points Save Answer You purchase a home for $350,000. You put 15% down as a down payment. The rest of the house will be paid using a loan from a bank. They have offered you two different plans. Plan A Plan A has an amortization of 20 years with payments to be made at the end of every month. The interest is a 3 year rate of 3.95% compounded semi-annually. Assume you chose Plan A and it is now time to refinance. What is the size of the new payments if upon refinancing, you have chosen a 4 year rate of 3.45%? $

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