Question
A12. If Mr. Smith would like to buy a house at the sales price of $400000 via a 30-year mortgage that requires a down payment
A12. If Mr. Smith would like to buy a house at the sales price of $400000 via a 30-year mortgage
that requires a down payment of 20% and the mortgage rate is 3.5% per year. The mortgage company also charges 3 points for the loan. How much does Mr. Smith have to borrow from the mortgage company (Hint: Mr. Smith has only enough cash to pay the 20%) (show your calculation)?
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The Best Retirement Guides For Adults Successful Techniques To Make Your Money Last A Lifetime
Authors: Rebecca W. Anderson
1st Edition
979-8865146025
