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Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $ 2 8 3 , 0 0 0 . Her bank requires a 2

Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $283,000. Her bank requires a 25% down payment. Sue Willis, an attorney, has notified Sharon that besides the 25% down payment there will be the following additional costs: (Use Table 15.1.)
Recording of the deed $ 38.00
A credit and appraisal report 163.00
Preparation of appropriate documents 56.00
Other closing expenses include a transfer tax of 1.5% of the purchase price and a loan origination fee of 3.0% of the mortgage amount Assume a 20-year mortgage at a rate of 358
%.
What is the initial amount of cash Sharon will need?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
What is her monthly payment?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
What is the total cost of interest over the life of the mortgage?
Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.
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