A.
1. The price of a home is $220,000. The bank requires a 20% down
payment and three p...
Mathematics, 17.10.2020 19:01, jack487
A.
1. The price of a home is $220,000. The bank requires a 20% down
payment and three points at the time of closing. The cost of the
home is financed with a 30-year fixed-rate mortgage at 7%.
Find the required down payment.
b. Find the amount of the mortgage.
c. How much must be paid for the three points at
closing?
d. Find the monthly payment (excluding escrowed taxes
and insurance).
e. Find the total cost of interest over 30 years.
nearest
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