Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. The Browns will reduce their mort
Posted: Wed Mar 09, 2022 8:45 am
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.)
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.)