1you just took a fixed-rate mortgage for 220000 at 475 for, Ask an Expert

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1.You just took a fixed-rate mortgage for $220,000 at 4.75% for 30 years, monthly payments, two discount points. Before you make any payments you receive a nice raise so you plan to pay an extra $200 per month on top of your normal payment.

A. What is your net interest savings over the life of the loan, assuming the loan is held to its maturity?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92805921

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