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1. The Young family is purchasing a $130,000 house with a VA mortgage. The bank is...

1. The Young family is purchasing a $130,000 house with a VA mortgage. The bank is offering them a 25-year mort gage with an interest rate of 9.5%. They have $20,000 invested that could be used for a down payment. Since they do not need a down payment, Mr. Young wants to keep the money invested. Mrs. Young believes that they should make a down payment of \$20,000 . a) Determine the total cost of the house with no down payment.

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