19. Joe bought a house for $200,000 with $50,000 down payment and the rest an 8% 20 year constant payment mortgage. If his payment is $1,280.27 per month, how many discount points the lender charged on the loan?

A. 0 pt

B. 1 pt

C. 2 pt

D. 3 pt

20. In the above question, if the lender also charges a 5% prepayment penalty if the loan is paid off before its maturity, how much does Joe owe to the bank if he decides to pay off the loan the same time he makes the 60th monthly payments?

A. $131,288

B. $140,666

C. $137,852

D. $133,968

21. In question 19 and 20, what is the effective interest rate of the mortgage when Joe pays off the mortgage at the end of 60^th month?

A. 8%

B 8.55%

C. 9.26%