3.5 pts Question 21 A borrower bought a house for $250,000; he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment. Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1.200 each per year. Selling cost is 6% of sale; property tax is 2% of the value each year, property value increases 5% per year. What is the first month mortgage payment? 512041 51199.10 514933 515122 Previous Next