Beth and bob salerno are looking at refinancing their home, Business Economics

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Beth and bob salerno are looking at refinancing their home

Beth and Bob Salerno are looking at refinancing their home loan of $250,000 and have been quoted 3.75% NAR for a 30 year loan compounded monthly.

a .What will be the monthly payment (assume no fees in the mortgage)?

b. What will be the remaining balance after 10 years of payments?

c. How much principle (only) will be paid in the first 10 years?

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Business Economics: Beth and bob salerno are looking at refinancing their home

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Business Economics: Beth and bob salerno are looking at refinancing their home

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