The figure below shows costs for a current home mortgage versus a refinanced home mortgage. Refinancing has initial costs but results in a lower monthly payment. Which best describes the lines?
The figure below shows costs for a current home mortgage versus a refinanced home mortgage. Refinancing has initial costs but results in a lower monthly payment. Which best describes the lines?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.5: Percent Of Change
Problem 1C
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Question
The figure below shows costs for a current home mortgage versus a refinanced home mortgage. Refinancing has initial costs but results in a lower monthly payment. Which best describes the lines?
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The blue line is for refinancing ,which is always cheaper.
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The red line is for refinancing, which is always cheaper.
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The blue line is for the current mortgage, which is always more expensive.
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The red line represents refinancing, which cheaper after 6 months.
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