Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest rate....
70.2K
Verified Solution
Link Copied!
Question
Accounting
Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $93 a month. Their closing costs for refinancing will be $6,696. How long will it take them to cover the cost of refinancing? (Round up your answer to the next whole number.) Time period months Kelly and Tim Johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce thelt mortgage payments by $93 a month. Their closing costs for refinancing will be $6,696. How long will it take them to cover the cost of refinancing? (Round up your answer to the next whole number.) Time period months
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
