Mathematics
Mathematics, 18.02.2021 23:50, getse61

In order to buy a vacation​ home, Neal and Lilly took out a ​20-year mortgage for ​$200,000 at an annual interest rate of ​8%. After 10 ​years, they refinanced the unpaid balance of ​$138,042 at an annual rate of 5​%. Use the table to find the monthly payments on the original​ loan; the monthly payments on the new​ loan; and the total amount saved on interest by refinancing.

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In order to buy a vacation​ home, Neal and Lilly took out a ​20-year mortgage for ​$200,000 at an an...

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