Suppose a family borrows 101000 on a home for 25 years at, Ask an Expert

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Suppose a family borrows $101000 on a home for 25 years at 8.1% compounded monthly. a. Find the monthly payments rounded up to the next cent. b. Find the outstanding balance just after making the 60th payment. c. Find the monthly savings in interest if the balance after the 60th payment is refinanced at 6.6% compounded monthly and the loan to be repaid in the remaining 240 payments.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92167149

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