The price of a home is $120,000. The bank requires a 10% down
payment and two points at the time of closing. The cost of the
home is financed with a 30-year fixed-rate mortgage at 8.5%.

what do u need to know

step-by-step explanation:

$655.61 which is option c

step-by-step explanation:

price of house =   $146,000

initial rate = 3.5%

mortgaged paid in this = 3.5 % of $146,000

                                        =

                                        =$5110

the total years would be = 7

total mortgaged paid = 7 * $5110

                                      =$35770

remaining money = $146000-35770

                                =$110230

new mortgaged payment = 5 % of 110230

                                            =  

                                            =$655.61