mathematics

You have recently taken out a loan for a new home. You place 10% down and finance the remaining balance.

You have recently taken out a loan for a new home. You place 10% down and finance the remaining balance. As part
of the closing cost, you are required to pay 2.5 points. Determine the amount of the loan prior to the addition of the
2.to the loan if the final loan amount was for $151,625. Round your answer to the nearest cent.
a. $149,384.24
b. $148,651.96
C. $147,926.83
d. $147,208.74

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