Larry and Laurie have found a home and made a $125,000 offer that has been accepted. They make a down payment of 10%. Their bank charges a loan origination fee of 1% of the loan and points of 1.5% (both are based on the loan amount). Other fees include a $25 loan application fee, a $250 appraisal fee, and $350 for title search and insurance. How much cash will Larry and Laurie need at closing? the first year if he currently has the $5,000 down payment invested in an account earning 5% interest.