Solve the problem. Round to the nearest dollar.The cost of a home on a particular island is  The bank requires a  down payment and three points at the time of closing. The cost of the home is financed with a  fixed rate at a. Find the required down payment.b. Find the amount of the mortgage.c. Find the amount that must be paid for the

three points at closing.d. Find the monthly payment.e. Find the total cost of interest over 30 years.



A.
B. a. $80,000; b. $920,000; c. $27,600; d.$6751; e. $1,510,360
C. a. $150,000; b. $1,000,000; c. $25,500; d.$6237; e. $1,245,320
D. a. $80,000; b. $1,000,000; c. $27,600; d.$6751; e. $1,430,360


Answer: A

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