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You want to buy a $209,000 home. You plan to pay 5% as a down...

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Basic Math

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You want to buy a $209,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 5.85% interest for the rest.a) What is the amount of the down payment?b) What will the amount of the mortgage?c) The bank charges 2.5 points on the loan. What is the amount charged for points?

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