You save up for a new house worth $$615,000$ and are able to get a loan for $75\%$ LTV at $6\mathrm{.}35\%.$ It

is fully amortizing over $30$ years. Your lender sees that you didn$$t study for your RM$450$ midterm

when you were in college and charges you an origination fee of $$2025$ and $2$ points. After $12$

years you cash out your Bitcoin and retire so you sell your house.

a$.$ What was your monthly payment?

b$.$ What was the outstanding loan balance on the loan when you sell the house?

c$.$ What was your effective borrowing cost?

d$.$ Now, your house is worth $$775,000.$

$1.$ What is your equity in the house when you decide to sell?

$2.$ How much did your equity increase over $12$ years?