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Use PMT= PA nt to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $206,000. The bank
Use PMT= PA nt to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $206,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 7%. Complete parts (a) through (e) below. a. Find the required down payment. $ 41200 b. Find the amount of the mortgage. $ 164800 c. How much must be paid for the three points at closing? (Round to the nearest dollar as needed.)
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