Nesrin purchased a $325,000 house and paid 25 percent down. She got a 30-year fixed-rate mortgage with an annual interes
Posted: Wed Jul 06, 2022 6:28 pm
Nesrin purchased a $325,000 house and paid 25 percent down. Shegot a 30-year fixed-rate mortgage with an annual interest rate of5.75 percent. After five years she refinanced the mortgage for 25years at a 5.35 percent annual interest rate. Calculate the newmonthly payment (to the nearest dollar) after therefinancing.