Many mortgage company allow you to "buy down" your interest rate of your loan by buying points. A point is equal to 1% of your mortgage amount (or $1,000 for every $100,000). You're essentially paying some interest up front in exchange for a lower interest rate over the life of your loan.

Find the following payments and total cost (including points) of a $141,000.00 that is borrowed for 30 years with

a) $\displaystyle {7}\frac{{1}}{{2}}$% compounded monthly with no points $. The total cost would be $

b) $\displaystyle {7}\frac{{1}}{{4}}$% compounded monthly with 1 point $. The total cost would be $

c) 7% compounded monthly with 2 points $. The total cost would be $