I would like to purchase a vacation house in the mountains of Colorado, where we like to go periodically. We would need to borrow approximately $395,000.00 make the deal. We can...I would like to purchase a vacation house in the mountains of Colorado, where we like to go periodically. We would need to borrow approximately $395,000.00 make the deal. We can get a loan from a local Credit UnionIt would be a $395,000 loan, but we must pay a $2000 not refundable processing fee, and we must purchase stock in the amount of 1,500.00 which earns nothing (but we get it back at the end of the loan period) In addition, we would also incur a $2,500 not refundable appraisal fee (all of these would be withheld from the loan proceeds). The annual interest rate offered would be 4.35%, and we would make MONTHLY payments for years until the loan is paid off.

a. Calculate the Monthly payment on the $395,000 loan at 4.35% annual interest

b. What would be the period cash flow (loan proceeds the stock purchase the processing fee the appraisal fee).If the house costs $415,000.00, how much would we have to come up with for the total out of pocket down payment ?