The price of a condominium is ​$184,000 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 8.5​%.   Find the required down payment . Find the amount of the mortgage How much must be paid for the one point at​ closing? Find the monthly payment​ (excluding escrowed taxes and​ insurance). Find the total cost of interest over 30 years.

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