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The Fritzes are buying a house that sells for 113,000. The bank is requiring a minimum down payment of 15%. To obtain a 30-year mortgage

The Fritzes are buying a house that sells for 113,000. The bank is requiring a minimum down payment of 15%. To obtain a 30-year mortgage at 11.5% interest, they must pay 3 points at the time of closing.

a) The required down payment is $___.

b) The mortgage on the property is $____.

c) The cost of the 3 points on the mortgage is $____.

(Round to the nearest dollar asneeded.)

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