Business, 19.04.2021 16:00, danielcano1228

A borrower has secured a 30-year, $150,000 loan at 7% with monthly payments. Fifteen years later, the borrower has the opportunity to refinance with a fifteen-year mortgage at 6%. However, the up-front fees, which will be paid in cash, are $2,500. What is the return on investment if the borrower expects to remain in the home for the next fifteen years

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A borrower has secured a 30-year, $150,000 loan at 7% with monthly payments. Fifteen years later, th...