Question: 009 10.0 points MIT 3-6 3 Mr. B buys a home for an unspecified amount. He pays a down payment of S20000 and finances the

009 10.0 points MIT 3-6 3 Mr. B buys a home

009 10.0 points MIT 3-6 3 Mr. B buys a home for an unspecified amount. He pays a down payment of S20000 and finances the remainder for 15 years with level end of month payments of S1,692.00 The annual effective interest rate for the first 5 years is 4% and thereafter it is 9.72%. Mr. Ball sells the house just after making his 100th mortgage payment. The selling price is S258,000.00. How much money will Mr Ball get at closing? (Remember, the loan holder is paid first, and then Mr. Ball receives the balance of the inflow from the resale.) Round your answer to the nearest cent Answer in units of dollars. Your answer must be within 0.0%

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