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Mariulka [41]
2 years ago
8

g 4. The price of a home is $197,000. The bank requires 20% down payment and four points at closing. The cost of the home is fin

anced with a 30-year fixed-rate mortgage at 4.25%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much will be paid for the four points at closing
Business
1 answer:
Molodets [167]2 years ago
4 0

Answer:

a. $39,400

b. $157,600

c. $6,304

Explanation:

a. Down payment

Bank requires 20% down payment

= 20% * 197,000

= $39,400

b. Mortgage amount

= Price of house - down payment

= 197,000 - 39,400

= $157,600

c. Amount at 4 points:

= Mortgage * 4%

= 157,600 * 4%

= $6,304

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At a price of $60 per bathing suit, what is the quantity demanded of bathing suits?
timofeeve [1]

Answer:

Explanation:

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Suppose you owned a portfolio consisting of $250,000 of long-term U.S. government bonds. Would your portfolio be riskless? Expla
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Answer and Explanation:

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3 years ago
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Read 2 more answers
A homeowner paid $85,000 for a house three years ago. The house sells today for $110,000. How much has the property appreciated?
Dima020 [189]

Answer:

Option (a) is correct.

Explanation:

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