Question: Down payment - 22 points My monthly payment to accumulate my down payment is 325.00 (3 points). It will take 123.72515 or 124 payments

Down payment - 22 points My monthly payment to accumulate my down

Down payment - 22 points My monthly payment to accumulate my down payment is 325.00 (3 points). It will take 123.72515 or 124 payments (6 points) to accumulate my down payment of 72000 (3 points) at 10.5% interest compounded monthly. Show work or discuss method of solving the problem (10 points) Down payment = 360000*.20 = 72000 ((1+.105/12)12*t 1) 72000 = PMT NORMAL FLOAT AUTO REAL RADIAN MP N= 23.72515 I%=10.5 PV=0 PMT=-325 FV=72000 P/Y=12 C/Y=12 PMT:END BEGIN 105. 12

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