Mike's closing costs will add up to 4 percent and he'll make a down payment of 20 percent on a house that costs $210,000. Over the life of his loan, he will pay $197,040.76 in monthly payments. What is the total cost of his house? A: 244,540.76 B: 247,440.76 C:265,440.76

Question

amistre64 · Answer

total payments + closing costs

total payments is monthly + down

anonymous · Answer

I don't get it

amistre64 · Answer

have you tried adding them?  i dont understand what it is you dont get

anonymous · Answer

i added the total payments and closing and got 407,040.76

phi · Answer

with any luck the total will be  
1) closing costs ;   plus
2)  20% downpayment; plus
3)  loan

phi · Answer

they told you item (3) is $197,040.76
you need to find (1)  and (2) 

can you find 4% of 210,000 ?

anonymous · Answer

I figured it out thank you guys for explaining more lol