#4 You want to buy a $330000 home. You plan to pay $33000 as a down payment, and take out a 20 year loan at 4.5% interest for the rest. After 14 years, you decide to pay off the entire loan. a) What...

#4 You want to buy a $330000 home. You plan to pay $33000 as a down payment, and take out a 20 year loan at 4.5% interest for the rest. After 14 years, you decide to pay off the entire loan.


a) What is the amount of the payment?

b) What is the outstanding principal after 14 years?

c) If the bank charges 4 points on the loan, what is the amount charged for points?