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If Closing Costs of $1,400 Are Associated with the Refinance

Question 95

Multiple Choice

If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870,it would take approximately ____ months to cover these costs.


A) 6
B) 9
C) 13
D) 17
E) 22

Correct Answer:

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