Question

Inez has to pay 4 percent in closing costs and 16 percent for the down payment on a purchase of $225,500 with an ARM. Over the life of the loan, she will pay $262,072.72.

Answer 1

Is there a question here?

Answer 2

What is the total cost of her house?

Answer 3

What is the total cost of her house? $262,072.72.

Would you like to know the total interest???

Answer 4

Yeah..

Answer 5

262,072.72 - $225,500 = 36,572.72

Answer 6

That cannot possibly be the total cost of the house.

Answer 7

That would be the cost of buying the house apart from the house itself.