Answer:
The total cost of the house is $ 247,440.76.
Step-by-step explanation:
Given,
The original cost of the house = $ 210,000,
Down payment percentage = 20 %,
⇒ Down payment = 20 % of the original cots = 20 % of 210,000
\(=0.20\times 210000\)
\(=\$ 42,000\)
Now, the rate of closing cost = 4 %,
⇒ The closing cost = 4 % of the original cost = 4 % of 210000
\(=0.04\times 210000\)
\(=\$ 8400\)
Also, the total payment paid for the house = $ 197,040.76
Hence, the total cost of the house = Total payment paid + Down Payment + Closing cost
= $ 197,040.76 + $ 42,000 + $ 8,400
= $ 247,440.76
