You want to buy a $252,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.1% interest for the rest.
a) What is the amount of the down payment?
$
b) What will the amount of the mortgage?
$
c) The bank charges 2 points on the loan. What is the amount charged for points?
$
a) What is the amount of the down payment?
$
b) What will the amount of the mortgage?
$
c) The bank charges 2 points on the loan. What is the amount charged for points?
$
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