You have a mortgage with a remaining balance $126,000
Question # 00665384
Posted By:
Updated on: 03/27/2018 10:24 AM Due on: 03/27/2018
1. You have a mortgage with a remaining balance $126,000 at 4.75%. A bank just sent you an offer to refinance you mortgage at 4.10%. Without considering any closing cost or other fees, if you plan to make the same monthly payments of $938.15 at the end of each month, how many less payments will you have to make to pay off your mortgage if you refinance?
-
Rating:
/5
Solution: You have a mortgage with a remaining balance $126,000