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Home purchase amount: $260,000 LTV: 95% Term & Am: 30 years Interest Rate: 4.0% Holding...

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Home purchase amount: $260,000 LTV: 95% Term & Am: 30 years Interest Rate: 4.0% Holding period: 7 years Closing Costs Discount point: 1.00% (paid to lender) Appraisal: $300 (paid to appraiser) Survey: $250 (paid to surveyor) Underwriting fee: $500 (paid to lender) Origination fee: 75% (paid to lender) PMI: .50% of original mortgage amount, paid per year on a monthly basis to the insurer How much principal will be paid during the holding period? $33,117 O $34,433 O $247,000 O $42,572 O $36,564 D Question 46 Calculate the effective borrowing cost (EBC) 4.28 % O 4.93 % O 5.0396 O 3.50% O 3.79% D Question 47 How much total interest will be paid over the holding period? O $79.213 O $247.000 $99,054 $64,621

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