Real Estate Math
A Colorado buyer finances 80% of a $500,000 purchase. The lender charges 1.5 discount points. How much does the buyer pay in points?
A$4,000
B$5,000
C$6,000✓ Correct
D$7,500
Explanation
Loan amount = $500,000 × 80% = $400,000. Points = $400,000 × 1.
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