Sam's grandparents want to refinance their house. With his knowledge from finance class, Sam gathered...
50.1K
Verified Solution
Link Copied!
Question
Finance
Sam's grandparents want to refinance their house. With his knowledge from finance class, Sam gathered the data as followed to help them: their $300,000 old mortgage was 5.76% APR, now the bank offers them 4.2% APR on a similar 15 year-mortgage. How much is the saving on their monthly mortgage payment from refinancing? :
A) $243.59
B) $219.86
C) $346.51
D) $113
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.