Five years ago you took out a 30-year mortgage with an apr, Ask an Expert

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Five years ago you took out a 30-year mortgage with an APR of 6.5% for $200,000. If you were to refinance the mortgage today for 20 years at an APR of 4.25% , how much would you save in total interest expense?

A. $176,846

B. $75,848

C. $151,696

D. $100,998

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