Concept explainers
Harry and Natalie Wolf have a three-year-old loan with which they purchased their house. Their interest rate is
a. Find their monthly payment with the existing loan.
b. Find the loan amount for their new loan.
c. Find the monthly payment with their new loan.
d. Find the total interest they will pay if they do not get a new loan.
e. Find the total interest they will pay if they do get a new loan.
f. Should the Wolfs refinance their home? Why or why not?
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