How much would you save in total interest expense

Reference no: EM13296152

Five years ago you took out a 30-year mortgage with an APR of 6.5% for $200,000. If you were to refinance the mortgage today for 20 years at an APR of 4.25% , how much would you save in total interest expense?

A. $176,846

B. $75,848

C. $151,696

D. $100,998

Reference no: EM13296152

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