n P Use PMT = to determine the payment amount. Round to the nearest dollar. -nt 1 + n The price of a home is $250,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 20-year fixed-rate mortgage at 6.5%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? d. Find the total interest over 20 years, to the nearest dollar. O A. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $7,500 d. total interest over 20 years: $107,875 C. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $6,000 d. total interest over 20 years: $357,875 O B. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $7,500 d. total interest over 20 years: $157,875 D. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $6,000 d. total interest over 20 years: $157,875 n P Use PMT = to determine the payment amount. Round to the nearest dollar. -nt 1 + n The price of a home is $250,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 20-year fixed-rate mortgage at 6.5%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? d. Find the total interest over 20 years, to the nearest dollar. O A. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $7,500 d. total interest over 20 years: $107,875 C. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $6,000 d. total interest over 20 years: $357,875 O B. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $7,500 d. total interest over 20 years: $157,875 D. a. down payment: $50,000 b. amount of mortgage: $200,000 c. points paid at closing: $6,000 d. total interest over 20 years: $157,875