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You want to buy a $135,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 4.45%
You want to buy a $135,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 4.45% interest for the rest. The bank will charge 3.5 points on the amount financed. a) What is the amount of the down payment? $ b) How much is the loan amount going to be? $ c) What will be the amount charged for 3.5 points? $ d) Find the amount of the monthly payment. $
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