A family purchased a house in 2006 with a 15-year 350000


A family purchased a house in 2006 with a 15-year, $350,000, 5.25 % mortgage. After 80 payments they are offered a 10-year loan with a rate that saves the family about $10,000 over the original loan. What is that rate?

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Microeconomics: A family purchased a house in 2006 with a 15-year 350000
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