- Joy and John MacAllister have agreed to purchase a house for $79,900. First
National Savings & Loan is willing to lend the money at 7.5 percent for
25 years, provided the MacAllisters can make a $19,900 down payment. The
total closing cost is 3.5 percent of the amount of the mortgage. What is their
total closing cost?

Question

07-05-2021
Mathematics

Answered

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- Joy and John MacAllister have agreed to purchase a house for $79,900. First
National Savings & Loan is willing to lend the money at 7.5 percent for
25 years, provided the MacAllisters can make a $19,900 down payment. The
total closing cost is 3.5 percent of the amount of the mortgage. What is their
total closing cost?

Sagot :

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