Ask Question
3 November, 00:50

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?

A. No; she has too much equity built up in the house.

B. No; the two blended interest rates are the same.

C. No; the new blended interest rate is higher than the old interest

rate.

D. Yes; the new blended interest rate is lower than the old blended

interest rate.

+4
Answers (1)
  1. 3 November, 02:30
    0
    yes; the new blended interest rate is lower than the old blended interest rate
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “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 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers