What is the reduction in monthly payments

Reference no: EM132139623

Question: A house was bought for $200,000 using a 20 year mortgage at 12% interest rate. After the 120th payment it was refinanced with 6% interest rate mortgage for 10 years. What is the reduction in monthly payments? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132139623

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