You want to buy a $190000 home. You plan to pay $19000 as a down payment, and take out a 15 year loan at 4.25% interest for the rest. a) What is the amount of the payment? $ b) If the bank charges 2...

You want to buy a $190000 home. You plan to pay $19000 as a down payment, and take out a 15 year loan at 4.25% interest for the rest.


a) What is the amount of the payment?


$


b) If the bank charges 2 points on the loan, what is the amount charged for points?


$


c) If the bank charges 2 points on the loan, what is the true interest rate?


$

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