Question: I also need to get the down payment and the working The price of a condominium is $183,000. The bank requires a 5% down payment

I also need to get the down payment and the working

The price of a condominium is $183,000. The bank requires a 5% down payment and one point at the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 6.5%. Use the following formula to determine the regular payment amount. Complete parts (a) through (e) below. P ( ) PMT = . . . $ b. Find the amount of the mortgage. c. How much must be paid for the one point at closing? $ (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $ (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years

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