The amount of the mortgage

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Reference no: EM131328340

The price of a condominium is $180,000.The bank requires a 5% down payment and one point at the time of closing.The cost of the condominium is financed with a 30 years fixed rate mortgage at 8%.Find the following:

A) The required down payment.

B) The amount of the mortgage,

C) How much must be paid for the one point at closing?

D) Find the monthly payment(excluding escrow taxes and insurance)

Reference no: EM131328340

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