Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. The Browns will reduce their mort

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answerhappygod
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Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. The Browns will reduce their mort

Post by answerhappygod »

Kelly and Tim Browne plan to refinance their mortgage to obtain
a lower interest rate. The Browns will reduce their mortgage
payments by $88 a month and incur closing costs of $2,360 as a
result of refinancing. How long will it take them to recover the
cost of refinancing? (Round your answer to 1 decimal place.)
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