Question

The chart shows the costs associated with the purchase of a new home. A 2-column table has 5 rows. The first column is labeled Components with entries principal after down payment, origination fee, closing costs, total principal, and additional taxes. The second column is labeled Cost with entries 240,000 dollars, 1,200 dollars, 4,800 dollars, 246,000 dollars, 4,000 dollars. What is the best conclusion that can be drawn from the information in the chart? It is too expensive for most people to buy a new home. There are additional fees and costs involved in taking out a mortgage. Making a down payment means taxes do not have to be paid. Fees and taxes make up about 50 percent of the costs of buying a home.

Answer 1

THere are additional fees and cost involved in taking out a mortgage

Step-by-step explanation:

the chart gives no information about people's salary or savings etc. so we can't say if it expensive for them or not.

Even after making downpayment some taxes have to be paid as is shown in the chart

Fees and taxes are much less than half the cost of house so they can't make up 50% of the costs.