You are considering refinancing a rental property of yours.Based upon the following data would you refinance? (Show Work) (5 points) Current L..;@ 7.5 interest New L..;@ 5.5 interest Financing costs on new loan: 1 point origination fee 1 point discount $600 closing costAssume a 20year term on both loans. No prepayment penalty on current loan.Investor’s desired rate of return is 10%.Expected holding period of 5 years.
Refinancing a rental property
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