Answer:
$4929.28 paid to the bank
Step-by-step explanation:
128300.
We have to decide whether we subtract the flat rates or the percentages first. Because the question repeatedly says that the percentages are taken off the mortgage, we know we have to subtract the percentages first, then the flat rates.
We can add together all the percentages in the first place so we have fewer steps. 2% + .325% + 1.10% = 3.425%.
3.425% of $128300 = .03425 * $128300 = $4394.275
Now we add the flat rates.
$55 + $155 + $325 = $535.
Add all the fees together to get the total closing costs.
$4394.275 + $535 = $4929.275 ≈ $4929.28 paid to the bank
