REFINANCE (Adjustable Rate Mortgage/HMDA)

in which case the monthly repayment, a, is $779.17. Therefore you should refinance since this would save you 809.75 – 779.17 = $30.58 on each monthly repayment. (c) Now suppose that exactly nine years have passed (you made the 108th repayment yesterday). You are considering making an extra payment of $10,000 off your loan. ................
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