SOLUTION: THE PRICE OF THE HOME IS $149,000. THE BANK REQUIRES A 20% DOWN PAYMENT AND 3 POINTS AT THE OF CLOSING. THE COST OF HE HOME IS FINANCED WITH A 30 YEAR FIXED RATE MORTGAGE AT 6.5%.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: THE PRICE OF THE HOME IS $149,000. THE BANK REQUIRES A 20% DOWN PAYMENT AND 3 POINTS AT THE OF CLOSING. THE COST OF HE HOME IS FINANCED WITH A 30 YEAR FIXED RATE MORTGAGE AT 6.5%.       Log On


   

Question 669523: THE PRICE OF THE HOME IS $149,000. THE BANK REQUIRES A 20% DOWN PAYMENT AND 3 POINTS AT THE OF CLOSING. THE COST OF HE HOME IS FINANCED WITH A 30 YEAR FIXED RATE MORTGAGE AT 6.5%. FIND THE AMOUNT OF THE MORTGAGE
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

one point equals one percent of the total loan amount
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