The Fritzes are buying a house that sells for 186,000. The bank is requiring a minimum down payment of 10?%. To obtain a 25?-year mortgage at 13.0?% ?interest, they must pay 4 points at the time of closing.
?a) Determine the required down payment.
?b) Determine the amount of the mortgage on the property with the 10?% down payment.
?c) Find the cost of 4 points on the mortgage.
a) The required down payment is ?$______
?b) The mortgage on the property is ?$_____
?c) The cost of the 4 points on the mortgage is ?$______
?(Round to the nearest dollar as? needed.)