Trystan and Kendall have decided to buy a new home that costs $300,000. They want to make a 20% down payment and finance the rest. Their bank has offered an opportunity to buy down the quoted interest rate of 4.75% by 0.125% per point purchased. Each point will cost 1% of the amount borrowed. Trystan and Kendall were hoping the interest rate was no more than 4.5% What will it cost to buy down the quoted interest rate to 4.5%?