You want to buy a $140000 home. You plan to pay $14000 as a down payment, and take out a 20 year loan at 4.75% interest for the rest. After 7 years, you decide to pay off the entire loan. a) What is...

You want to buy a $140000 home. You plan to pay $14000 as a down payment, and take out a 20 year loan at 4.75% interest for the rest. After 7 years, you decide to pay off the entire loan.


a) What is the amount of the payment? $814.24.

b) What is the outstanding principal after 7 years? $94,634.01


c) If the bank charges 3.5 points on the loan, what is the amount charged for points? $4,410

PLEASE ONLY SOLVE FOR D OTHER ANSWERS ARE ALREADY SOLVED.

d) If the bank charges 3.5 points on the loan, what is the true interest rate?