Decided to refinance the remaining loan balance

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Madeline and Nick took out a 30year mortgage for $160,000 at 9.8% interest compounded monthly. After they had made 12 years of payments, they decided to refinance the remaining loan balance for 25 years at 7.2% interest, compounded

Reference no: EM131011382

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Decided to refinance the remaining loan balance : Madeline and Nick took out a 30year mortgage for $160,000 at 9.8% interest compounded monthly. After they had made 12 years of payments, they decided to refinance the remaining loan balance for 25 years at 7.2% interest, compounded

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