Suppose you decide to buy a house for $235,000. The bank requires an 9% down payment for a 30 year mortgage at 4.5%.

(a) What is the down payment?

(b) What is the value of the mortgage?

(c) If 3 points were required at closing, how much would they cost?

(d) What would the monthly payments be?

(e) What would the total amount paid at the end of the mortgage be?