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engineering economics help A34; Suppose you want to bonow $200,000 to purchase a home. You have found terms that include a 30-year note with a

engineering economics help

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A34; Suppose you want to bonow $200,000 to purchase a home. You have found terms that include a 30-year note with a (nominal) rate of 7.0% oom- pounded monthly. The loan includes payment of 2.5 points, which will be paid out of the loan at closing (One point is equal to 1% of the loan value.) A) Calculate the monthly mortgage payment. B) How much interest is paid in the 2nd month's payment? G) How much principal is paid in the 2nd month's payment? D) Assuming the points are the only relevant closing costs associated with the loan, what is the APR on this loan

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