(3) Mr. Bell buys a home for an unspecied amount. He pays a down payment of $20,000 and nances the remainder for 15 years with level end-ofmonth payments of $1,692. The annual effective interest rate for the rst ve years is 4%, and thereafter it is 6%. Mr. Bell sells the house just after making his 100th mortgage payment. The selling price is $258,000. How much money will Mr. Bell get at closing? (Remember, the loan holder is paid rst, and then Mr. Bell receives the balance of the inow from the resale.)