Solve the problem using the table.Monthly Principal and Interest Payment per $1000 of Mortgage
Justin Lowery is buying a condominium that sells for $130,000. The bank is requiring a minimum down payment of 15%. To obtain a 20-year mortgage at 9.0% interest, Justin must pay 3 point(s) at the time of closing. What is the cost of the 3 point(s) on the mortgage?
A. $3315.00
B. $3900.00
C. $3489.47
D. $9945.00
Answer: A
Mathematics
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