3.5 pts D Question 25 A borrower bought a house for $250.000, he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment. Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1,200 each per year, Selling cost is 6% of sale; property tax is 2% of the value each year, property value increases 5% per year. What is the effective first 3 month mortgage payment (after tax benefit). $2848.05 $2957.70 $3036.73 $2017.94 Previous Next