Use PMT P Ic nt to determine the payment amount Round to the

Last updated: 4/24/2023

Use PMT P Ic nt to determine the payment amount Round to the nearest dollar 1 1 The price of a home is 270 000 The bank requires a 5 down payment and two points at the time of closing The cost of the home is financed with a 30 year fixed rate mortgage a 7 5 a Find the required down payment b Find the amount of the mortgage c How much must be paid for the two points at closing d Find the total interest over 30 years to the nearest dollar OA a down payment 13 500 b amount of mortgage 256 500 c points paid at closing 5 130 d total interest over 30 years 388 980 OC a down payment 13 500 b amount of mortgage 256 500 c points paid at closing 5 400 d total interest over 30 years 375 480 OB a down payment 13 500 b amount of mortgage 256 500 c points paid at closing 5 130 d total interest over 30 years 645 480 OD a down payment 8 100 b amount of mortgage 261 900 c points paid at closing 5 400 d total interest over 30 years 388 980