To get full credits, you need to show your work such as the financial components that you put in Excel calculations

You got a $300,000 mortgage for your new home. This is a 20- year constant payment mortgage with the rate at 4.00 %.

1. What is your monthly payment?

2. If you plan to sell the house at the end of year 4, what is the remaining balance then?

3. If the origination fee is 5% of the mortgage amount and you plan to sell the house at the end of year 4, what the effect annual rate will be?

4. If you can pay 1 point to lower your mortgage rate to 3.5%, how long you should keep the house to make paying the point break even?