Question
The Roschunis bought a house for $761,400. They paid the sellers a 20% down payment and obtained a simple interest amortized loan for the balance
The Roschunis bought a house for $761,400. They paid the sellers a 20% down payment and obtained a simple interest amortized loan for the balance from their bank for the remainder, at 9 7 8 % for thirty years. The bank in turn paid the sellers the loan amount, less a 6% sales commission paid to the sellers' and buyers' real estate agents. The bank charged them 2 points plus fees totaling $5,896.23; of these fees, $3,987.15 were included in the finance charge.
(a) Find the Roschuni's monthly payment. (Round your answer to the nearest cent.) $
(b) Find the APR (round to the nearest hundredth of 1%). %
(c) Find the total finance charge. (Round your answer to the nearest cent.) $ (d) Find the amount that the sellers are paid for their house. $
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