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Mathematics, 31.07.2020 05:01 reneebrown017

Carol has had a $145,000 fixed-rate mortgage for 5 years at 6.25% and is considering refinancing. She can now get an 80/20 mortgage with 4.5% and
9.5% interest, respectively. Based only on this information, should she
refinance?
the ouse
A. No, she has too much equity built up
B. No, the two blended interest rates ar nes ne.
O o
Teri an the old blinded
C. Yes, the new blended interest rate is
interest rate.
D. No, the new blended interest rate is higher than the old interest
rate

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Answers: 3

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Carol has had a $145,000 fixed-rate mortgage for 5 years at 6.25% and is considering refinancing. S...

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