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You are purchasing a home for $340,000. The down payment is 25% and the balance will...

You are purchasing a home for $340,000. The down payment is 25% and the balance will be financed with a 25-year mortgage at 8% and 1 discount points. You put down a deposit of $10,000 (applied to the down payment) when the sales contract was signed. You also have these expenses: credit report, $80; appraisal fee, $140; title insurance premium, 1% of amount financed; title search, $300; and attorney's fees, $850. Find your amount due at the closing. a. $340,000 b. $81,470 c. $81,170 d. $57,655

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answer is option B

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