# Calculate your monthly payments and total closing cost

*label*Mathematics

*timer*Asked: Apr 29th, 2015

**Question description**

You need a loan of $100,000 to buy a condo. Calculate your monthly payments and total closing costs for each choice

Choice 1: 30-year fixed rate at 4.5% with closing costs of $ 1308 and no points

Choice 2: 20-year fixed rate at 4% with closing costs of $ 1308 and 4 points

Can you help me solve so I know the steps in this problem?