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Need answer in 20 minutes please. 17. You would like to purchase a $170,000 home with 15% down. The bank says that they will give

Need answer in 20 minutes please.

17. You would like to purchase a $170,000 home with 15% down. The bank says that they will give you a 7% interest rate if you pay 2 points. The fees are $3000. The loan terms are 25 year with monthly payments. How much is each payment?
14,587.79 12,399.62 961.36 1,021.30

Question 18. 18. Following previous question (Q17), how much would you owe the bank if you sold at the end of 6 years?
128,596.05 150,773.49 142,215.38 133,938.99

Question 19.19. Following previous question (Q17), what is the actualinterest ratefor this bank if you do sell the house at the end of 6 years?

8.25% 7.90% 9.11% 7.5%

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