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A bank has agreed to lend you $524,000 for a home loan. The loan will be fully amortized over 40 years at 5.33%, with .58

A bank has agreed to lend you $524,000 for a home loan. The loan will be fully amortized over 40 years at 5.33%, with .58 points. The loan payments will be monthly. The closing cost is estimated to be $2,579 and you plan to refinance the mortgage in 6 years.

Calculate the loan principal.

$529,694.46

$529,650.98

$529,655.51

$529,563.08

None of the answers are correct

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