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 blue line is for refinancing ,which is always cheaper. The red line is for refinancing, which is always cheaper. The blue line is for the current mortgage, which is always more expensive. The red line represents refinancing, which cheaper after 6 months. 1400012000 +100008000600040002000+9.1046.MonthsTotal cost ($)

Answered: The figure below shows costs for a…

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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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 blue line is for refinancing ,which is always cheaper.

The red line is for refinancing, which is always cheaper.

The blue line is for the current mortgage, which is always more expensive.

The red line represents refinancing, which cheaper after 6 months.