Question

.18. Drew is purchasing a home for $452,000. He makes a 20% down payment and obtains a 30-year fixed rate mortgage loan at 6% annual interest. His monthly payments are $2167.98. He pays an intangible tax of 0.2%.

Which of the following is the total cost of principal, interest, down payment, and amount of intangible tax? (4 points)

$780,472.80
$781,196.00
$871,596.00
$871,776.80

Answer 1

Some one help

Answer 2

jim_thompson5910

Answer 3

30 x 12 x monthly mortgage = 780480 approx.
20% down = 90, 400
0.2% intangible tax = 904 once
total = one of the answers given above, approx.