Question: 3.6 pts Question 5 A borrower has secured a 30 year, $320,000 loan at 7% Ten years later, the borrower has the opportunity to refinance

3.6 pts Question 5 A borrower has secured a 30 year,

3.6 pts Question 5 A borrower has secured a 30 year, $320,000 loan at 7% Ten years later, the borrower has the opportunity to refinance with a 20 year mortgage at 6.2%. However, there is an upfront fee of $2500, which will be paid in cash. What is the return on investment refinance) if the borrower expects to remain in the home for the next five years? 65645 62.89% 63.90% 69.33% Previous Next >

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