Question: Please help me on this! very stuck. Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $279,000. Her bank requires a 20% down

Please help me on this! very stuck.

Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $279,000. Her bank requires a 20\% down payment. Sue Willis, an attorney, has notifled Sharon that besides the 20% down payment there will be the following additional costs In addition, there will be a transfer tax of 2% of the purchase price and a loan origination fee of 2% of the mortgage amount. Assume a 30 -year mortgage at a rate of 10.5%. a. What is the initial amount of cash Sharon will need? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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