Real Estate Math
A Delaware property buyer pays $3.75 per $1,000 of borrowed amount for points. If they borrow $280,000, how much are the points?
A$1,050✓ Correct
B$3,750
C$2,100
D$1,400
Explanation
Points = ($280,000 ÷ $1,000) × $3.75 = 280 × $3.75 = $1,050. Using the values given ($3.75, $1,000), apply the appropriate formula.. The correct answer is $1,050.. This is a common calculation on the Delaware real estate exam.
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