Kelly and tim johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $99 a month. Their closing costs for refinancing will be $1,760. How long will it take them to cover the cost of refinancing?

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13-07-2024
Mathematics

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Kelly and tim johnson plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $99 a month. Their closing costs for refinancing will be $1,760. How long will it take them to cover the cost of refinancing?

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