Question
The Hills obtain a30-year, $144,000 conventional mortgage at a4.5% rate on a house selling for$180,000. Their monthly mortgagepayment, including principal andinterest, is$729.63. They also pay
The Hills obtain a30-year, $144,000 conventional mortgage at a4.5% rate on a house selling for$180,000. Their monthly mortgagepayment, including principal andinterest, is$729.63. They also pay 2 points at closing. Determine the total amount the Hills will pay for their house over 30 years.
The total amount is $
.
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
