A homeowner took out a 25-year fixed-rate
mortgage of $205,000. The mortgage was
taken out 7 years ago at a rate of 7.05
percent. If the homeowner refinances, the
charges will be $3,350. What is the highest
interest rate at which it would be beneficial
to refinance the mortgage?
The post A homeowner took out a 25-year fixed-rate
mortgage of $205,000. The mortgage was appeared first on Skilled Papers.
A homeowner took out a 25-year fixed-rate
mortgage of $205,000. The mortgage was