#$3.$ To buy your dream home you use a $\frac{4}{16}$ reset loan that pays interest only $($bullet loan$)$ for the first $4$ years, followed with a reset payment to amortize over the remaining $16$ years. The loan amount is $$280,000$ at $4\mathrm{.}75\%,$ with $2$ discount points $($to the lender$)$ and $$1450$ in third party closing costs which the borrower must pay.

a$)$ What net amount does the lender disburse?

b$)$ What net amount do you as a borrower receive?

c$)$ What is your monthly payment during the first $4$ years?

d$)$ What is your monthly payment during the remaining $16$ years?

e$)$ What is the FTLAPR on this loan?

Nan $($printed$)$:

Signature: