Question: Use PMT =[1(1+nr)nt]P(nr) to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $216,000. The bank requires a

Use PMT =[1(1+nr)nt]P(nr) to determine the regular payment amount, rounded to

Use PMT =[1(1+nr)nt]P(nr) to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $216,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30 -year fixed-rate mortgage at 8.5%. Complete parts (a) through (e) below. a. Find the required down payment. b. Find the amount of the mortgage

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