Five years after purchasing your house (15-year, 3.50% loan,…

Five years after purchasing your house (15-year, 3.50% loan, $1,100 monthly payment), mortgage rates have dropped to 2.5%. You currently owe $100,000 on the original mortgage and would like to refinance for the lower rate but keep the same original end date. The cost to refinance is $3,000. What will be the new payment after refinancing? 

It’s the 5th century BCE and you’re hanging out in Athens wh…

It’s the 5th century BCE and you’re hanging out in Athens when some barefoot dude walks up and starts asking you questions like, “But what is justice? And what is truth?” And when you answer him, he just keeps asking more questions… it’s like he’s wanting me to say something. Look… you’re just trying to buy olives, and suddenly you’re stuck in a two-hour conversation that makes you question your entire existence. Later you heard that the government got so fed up with his constant questioning that they hand him a cup of poison. Who just turned your olive run into a therapy session?

John and Kayla just heard about donations in kind and are ve…

John and Kayla just heard about donations in kind and are very excited because they have appreciated stock. For this year’s tithing, they give the church 40 shares of $165 Costco stock that they bought 10 years ago for $90 per share. If their long-term capital gains tax would be 15% and their current marginal tax rate is 28%, what are the total tax savings due to tithing, assuming they itemize deductions?

Randy and Rhoda just got married and found their dream home….

Randy and Rhoda just got married and found their dream home. They will need to take out a loan of $96,000 to pay for the home, as they have a $24,000 down payment. Randy and Rhoda qualify for their loan at 4% for 30 years. Randy and Rhoda have the opportunity to purchase 2 points to lower their interest rate to 2%.   How long will it take them to break even?