Page 1 of 1

Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage

Posted: Sun May 29, 2022 6:39 pm
by answerhappygod
Kelly and Tim Johnson plan to refinance their mortgage to obtain
a lower interest rate. They will reduce their mortgage payments by
$147 a month. Their closing costs for refinancing will be $1,760.
How long will it take them to cover the cost of refinancing? (Round
up your answer to the following whole number.) Time period
months.