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Building a House In Exercises 12–18, the Leungs decided to build a new house. The contractor quoted them a price of $144 500, including the lot. The taxes on the house would be $3200 per year, and homeowners’ insurance would cost $450 per year. They have applied for a conventional loan from a bank. The bank is requiring a 15% down payment, and the interest rate is
13. Determine the amount paid for points.
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