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QUESTION
You bought a house a year ago for $250,000, borrowing $200,000 at 12% annual, with semi-annual compounding, on a 25-year loan. Interest rates have...
You bought a house a year ago for $250,000, borrowing $200,000 at 12% annual, with semi-annual compounding, on a 25-year loan. Interest rates have since come down to 9%. You can refinance your mortgage at this new rate.
