Isabel is buying a house for $160,000. She plans to make a 10% down payment. Closing costs include $650 for 6 months of homeowners insurance, $800 for 6 months of property tax, $150 for the title fee, and $500 in transaction fees. Isabel also agreed to pay four points in exchange for a 1% reduction in interest rate. Determine the amount of money Isabel needs to cover closing costs. Round your answer to the nearest cent.

Isabel is buying a house for $160,000. She plans to make a 10% down payment. Closing costs include $650 for 6 months of homeowners insurance, $800 for 6 months of property tax, $150 for the title fee, and $500 in transaction fees. Isabel also agreed to pay four points in exchange for a 1% reduction in interest rate. Determine the amount of money Isabel needs to cover closing costs. Round your answer to the nearest cent.

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter2: Working With Real Numbers

Section2.3: Rules For Addition

Problem 15P

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