Use PMT= $ 35800 P +) a home is $179,000. 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 7.5%. Complete parts (a) through (e) below. -nt 1+ 100 to determine the regular payment amount, rounded to the nearest dollar. The price of b. Find the amount of the mortgage. $ 143200 "" c. How much must be paid for the three points at closing? $ 4296 (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). (Round to the nearest dollar as needed.) $ ... HC 79°F Clear 1 J>

Use PMT= $ 35800 P +) a home is $179,000. 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 7.5%. Complete parts (a) through (e) below. -nt 1+ 100 to determine the regular payment amount, rounded to the nearest dollar. The price of b. Find the amount of the mortgage. $ 143200 "" c. How much must be paid for the three points at closing? $ 4296 (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). (Round to the nearest dollar as needed.) $ ... HC 79°F Clear 1 J>

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...

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