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Bubba bought his house 20 years ago, he is borrowed $200,000 with a 30-year mortgage with...

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Finance

Bubba bought his house 20 years ago, he is borrowed $200,000with a 30-year mortgage with a 5.0% APR. His mortgage broker hasoffered him a 10-year mortgage with a 4% APR with 3 points closingcosts. What is Charlie's old monthly payment? What is the balanceon Bubba's mortgage? What is Bubba's new monthly payment? What areBubba's present value savings after paying the points if he plansto live in the house until the mortgage is paid off?

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4.0 Ratings (618 Votes)
1 Charlies old monthly payment 10842    See Answer
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