Gary is purchasing a $210,000 home and is making a 20% down payment toward the cost. he is also buying 2 points in order to lower his interest rate. the appraisal fee is $400 and the title is $300 and the processing fee is $575. including the down payment , what are his closing costs?
a. $45,892
b. $47,246
c. $42,315
d. $46,635

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step-by-step explanation:

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step-by-step explanation:

we have three similar triangles, because each has a right angle and shares an angle.   let's write the angles in order: opposite to short leg, long leg, hypotenuse.

cab similar to bad similar to cbd

or as ratios,

ca: ab: cb = ba: ad: bd = cb: bd: cd

we also know

ac = ad + cd

(ad+cd): ab: cb = ba: ad: bd = cb: bd: cd

(ad+cd)/cb=cb/cd

we have cb=6, ad=5 and seek x=cd.

we reject the negative root and conclude x=4

answer: 4

answer: its the third option.

step-by-step explanation:

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