Question $30$

$3\mathrm{.}33$ pts

A property is available for sale that could be financed with a fully amortizing $$250,000$ loan at $8\%$ with a monthly payment over $30$ years. The builder is offering buyers a mortgage that reduces the payment by $20\%$ for first and second year. After the second year, regular payment would be made for the remainder of the loan term.

How much would you expect the builder to pay to buy down the payments as indicated?

$6876$

$8112$

$9651$

$7523$