How many months would she have to live in the house

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Reference no: EM132043030

USING EXCEL FUNCTIONS PLEASE SOLVE THE FOLLOWING:

Tara has a mortgage at 6.00% with an outstanding balance of $200,000 and 24 years remaining. Assuming costs and fees of $3,500 to get a new loan at 4.75%, how many months would she have to live in the house to justify making the change? Is there a good general rule to be applied to these situations?

Reference no: EM132043030

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