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Sagot :
210000 * .20 = 42000 down payment
210000 * .04 = 8400 closing costs
197040.76 + 42000 + 8400 = 247440.76 total cost
210000 * .04 = 8400 closing costs
197040.76 + 42000 + 8400 = 247440.76 total cost
Answer:
The total cost of the house is $ 247,440.76.
Step-by-step explanation:
Given,
The original cost of the house = $ 210,000,
Down payment percentage = 20 %,
⇒ Down payment = 20 % of the original cots = 20 % of 210,000
[tex]=0.20\times 210000[/tex]
[tex]=\$ 42,000[/tex]
Now, the rate of closing cost = 4 %,
⇒ The closing cost = 4 % of the original cost = 4 % of 210000
[tex]=0.04\times 210000[/tex]
[tex]=\$ 8400[/tex]
Also, the total payment paid for the house = $ 197,040.76
Hence, the total cost of the house = Total payment paid + Down Payment + Closing cost
= $ 197,040.76 + $ 42,000 + $ 8,400
= $ 247,440.76
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