You want to buy a $130,000 home. You plan to pay 10% as a down payment,...
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You want to buy a $130,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.65% interest for the rest. The bank will charge 1.5 points on the amount financed. a) What is the amount of the down payment? S b) How much is the loan amount going to be? S $ What will be the amount charged for 1.5 points? d) Find the amount of the monthly payment. You want to buy a $130,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.65% interest for the rest. The bank will charge 1.5 points on the amount financed. a) What is the amount of the down payment? S b) How much is the loan amount going to be? S $ What will be the amount charged for 1.5 points? d) Find the amount of the monthly payment.
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