Real Estate Math
A buyer needs to borrow $175,000. The lender charges 2 points. How much are the points?
A$3,500✓ Correct
B$2,500
C$1,750
D$4,375
Explanation
Points = Loan amount × Points% = $175,000 × 2% = $3,500. Using the values given ($175,000), apply the appropriate formula..
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