Please answer with explanation. Fast and correct.I will really upvote. Thanks Question 6Solve the problem.Monthly Payment per $1000 of MortgageMonthiy paynent25-yearloan$8.73$9.0930-vearlean$8.41$8.78$9.15Interestrate15-year1oan20-yearloan9.5%10.0x10.5%$10.45$10.75311.06$11.37$11.69$12.01512.33$12.66$9.33$9.66$9.99$10.33s10.66$9.45$9.8111.0%11.5%12.0%12.5%s11.01$11.36S11.72$10.16$10.53S10.90$11.28$9.53$9.90$10.29$18.67$11.0613.0%Justin Lowery is buying a condominium thatsells for $120,000. The bank is requiring aminimum down payment of 15%. To obtaina 20-year mortgage at 8.5% interest, Justinmust pay 1 point(s) at the time of closing.What is the cost of the 1 point(s) on themortgage?O $1073.68O $8670.00O $1200.00O $1020.00

Answered: Image /qna-images/answer/e5ac8c85-4e7c-4c2d-8e15-c72affcab459.jpg

Question 6 Solve the problem. Monthly Payment per $1000 of Mortgage Monthiy payment 25-year loan $8.73 $9.09 事9、45 $9.81 S10.16 510.53 S18.90 $11.28 15-vear 1oan 30-year lean $8.41 Interest rate 9.5% 18.0% 20-year loan $9.33 $9.66 $9.99 $19.45 $8.78 $10.75 611.06 10.5% $9.15 $9.53 $9.98 $10.29 S10.67 $11.06 S11.37 $10.33 $18.66 S11.01 $11.36 $11.72 11.0% 11.5% 12.0% $11.69 $12.01 512.33 12.5% 13.0% $12.66 Justin Lowery is buying a condominium that sells for $120,000. The bank is requiring a minimum down payment of 15%. To obtain a 20-year mortgage at 8.5% interest, Justin must pay 1 point(s) at the time of closing. What is the cost of the 1 point(s) on the mortgage? O $1073.68 O $8670.00 O $1200.00 O $1020.00

Question 6 Solve the problem. Monthly Payment per $1000 of Mortgage Monthiy payment 25-year loan $8.73 $9.09 事9、45 $9.81 S10.16 510.53 S18.90 $11.28 15-vear 1oan 30-year lean $8.41 Interest rate 9.5% 18.0% 20-year loan $9.33 $9.66 $9.99 $19.45 $8.78 $10.75 611.06 10.5% $9.15 $9.53 $9.98 $10.29 S10.67 $11.06 S11.37 $10.33 $18.66 S11.01 $11.36 $11.72 11.0% 11.5% 12.0% $11.69 $12.01 512.33 12.5% 13.0% $12.66 Justin Lowery is buying a condominium that sells for $120,000. The bank is requiring a minimum down payment of 15%. To obtain a 20-year mortgage at 8.5% interest, Justin must pay 1 point(s) at the time of closing. What is the cost of the 1 point(s) on the mortgage? O $1073.68 O $8670.00 O $1200.00 O $1020.00

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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