If Closing Costs of $1,400 Are Associated with the Refinance

question 95

Multiple Choice

If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870,it would take approximately ____ months to cover these costs.

• A)6
• B)9
• C)13
• D)17
• E)22

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Definitions:

Site Selection

The process of determining the most suitable location for a business or facility, taking into account factors like cost, accessibility, regulations, and supply chain logistics.

Tapering Rates

A monetary policy term referring to the gradual slowing of the rate of quantitative easing by a central bank to reduce the amount of new money introduced into the economy.

Facility Location

The process of determining the most appropriate geographical location for a company's operations, manufacturing, or distribution centers to optimize logistics and meet customer demand.

Optimum Location

The most favorable place for a business to operate, considering factors such as cost, accessibility, and market presence.