Question

Kelly and Tim Jarowski plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $58 a month. Their closing costs for refinancing will be $1,690. How long will it take them to cover the cost of refinancing

Answer 1

How long will it take them to cover the cost of refinancing = 29months

Step-by-step explanation:

Number of months = $1,690 / $58

Number of months = 29 months