Real Estate Math
A buyer purchases a home for $380,000 with a 20% down payment. The lender charges 1.5 discount points. What is the dollar amount of the discount points?
A$4,560✓ Correct
B$5,700
C$7,600
D$11,400
Explanation
Loan amount = $380,000 × 80% = $304,000. Points = 1.5% × $304,000 = $4,560. To solve this, multiply the relevant values: $380,000 at 20%.. The correct answer is $4,560.. This is a common calculation on the Georgia real estate exam.
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