Question: using HP 10bll Calculater (7) You are considering refinancing your home's 30 year mortgage at a lower interest rate. Your original loan amount was $85,000

using HP 10bll Calculater

(7) You are considering refinancing your home's 30 year mortgage at a lower interest rate. Your original loan amount was $85,000 and your current monthly payment is $683.93. Assuming you wish to continue paying the same monthly amount on a new 30 year mortgage, how much cash can you pull out from refinancing the current loan balance at 6% now that you have been in the home for five years? Solve for original 1. Reload 60 into N. Solve for FV. Solve for the new PV under the new terms, then subtract from FV found above

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