The Bells obtain a 30 year 130 000 conventional mortgage at

Last updated: 1/24/2024

The Bells obtain a 30 year 130 000 conventional mortgage at a 9 5 rate on a house selling for 150 000 Their monthly mortgage payment including principal and interest is 1093 30 They also pay 2 points at closing a Determine the total amount the Bells will pay for their house b How much of the cost will be interest including the 2 points c How much of the first payment on the mortgage is applied to the principal a The total amount that the Bells will pay for their house is Round to the nearest dollar as needed