2. the price of a condominium is $180,000. the bank requires a
5% down payment and one point at the time of closing. the
cost of the condominium is financed with a 30-year fixed-rate
mortgage at 8%.
a. find the required down payment.
b. find the amount of the mortgage.
c. how much must be paid for the one point at closing?
d. find the monthly payment (excluding escrowed taxes
and insurance).
e. find the total cost of interest over 30 years.