The Booslers have twenty years remaining on a 5.4%APR thirty-year mortgage that had an initial...
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The Booslers have twenty years remaining on a 5.4%APR thirty-year mortgage that had an initial balance of $500,000. The Bank of Greater Nowhere offers to refinance the loan at 3.24% APR for the next twenty years. What is the monthly saving for the Booslers. Show all your work. (Hint: Multi step problem. Figure out outstanding balance first)
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