The Bells obtain a 20 year 100 000 conventional mortgage at

Last updated: 1/24/2024

The Bells obtain a 20 year 100 000 conventional mortgage at a 10 0 rate on a house selling for 130 000 Their monthly mortgage payment including principal and interest is 966 00 They also pay 3 points at closin a Determine the total amount the Bells will pay for their house b How much of the cost will be interest including the 3 points c How much of the first payment on the mortgage is applied to the principal www a The total amount that the Bells will pay for their house is Round to the nearest dollar as needed