Two years ago, you purchase a house of $100,000. You borrow a mortgage with 80% of LTV (loan to value
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1. What is the new loan amount if you choose to refinance?
2. What is your monthly payment for the new loan?
3. What is the effective cost of your new loan and do you refinance if you hold the loan for 30 years
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Chapter # 10
Section: Mini Cases
Posted Date: September 14, 2023 01:23:23