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4. [-/12.5 Points] DETAILS BRECMBC9 14.1.021.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Kari is purchasing a home for $220,000. The down payment is 25%

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4. [-/12.5 Points] DETAILS BRECMBC9 14.1.021.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a 15 year mortgage at 8% and 3 discount points. Kari made a deposit of $20,000 (applied to the down payment) when the sales contract was signed. Kari also has these expenses: credit report, $90; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $). $ Need Help? Read It Watch It Master It

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