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The Nicols are buying a house selling for 235 000 They pay a down payment...

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Basic Math

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The Nicols are buying a house selling for 235 000 They pay a down payment of 35 000 from the sale of the current house To obtain a 15 year mortgage at a 6 interest rate the Nicols must pay 2 5 points at the time of closing a What is the amount of the mortgage b What is the cost of the 2 5 points a The amount of the mortgage is

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