Martha is buying a house selling for $195,000. The bank is requiring a minimum down payment of

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Martha is buying a house selling for $195,000. The bank is requiring a minimum down payment of 20%. To obtain a 20-year mortgage at 6% interest, she must pay 2 points at the time of closing.

(a) What is the required down payment?

(b) What is the amount of the mortgage?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 08:09 AM

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Martha is buying a house selling for $195,000. The bank is requiring a minimum down payment of

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A Survey of Mathematics with Applications

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