Carol has had a $145,000 fixed mortgage for 5 years at 5.5% 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,

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asked Feb 25, 2022 137k views

1 vote

Carol has had a $145,000 fixed mortgage for 5 years at 5.5% 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?

Mathematics
high-school

Thomas Guillory asked

by Thomas Guillory

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2 Answers

4 votes

Answer:

no, the new blended rate is higher than the old interest rate

Explanation:

bc i said so

Mamunur Rashid answered Feb 26, 2022

by Mamunur Rashid

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4 votes

Answer: no the two blended interest rates are the same

Explanation:

Rjamestaylor answered Mar 4, 2022

by Rjamestaylor

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