You want to buy a $177,500 home. You plan to pay 30% as a down payment, and take out a 30-year loan at 5.5% for the rest. The bank requires 2 points at closing. (a) How much is the loan amount going...

You want to buy a $177,500 home. You plan to pay 30% as a down payment, and take out a 30-year loan at 5.5% for the rest. The bank requires 2 points at closing.


(a) How much is the loan amount going to be?


(b) How much are the closing costs?


(c) What will your monthly payments be?


(d) How much will you pay in interest over the life of the loan?