Real Estate Math
A lender charges 2 origination points and 1 discount point on a $320,000 mortgage. What is the total dollar amount of points charged?
AA. $6,400
BB. $9,600✓ Correct
CC. $3,200
DD. $32,000
Explanation
Total points = 3 (2 origination + 1 discount) = 3% of $320,000. Points = 0.03 × $320,000 = $9,600. Using the values given ($320,000), apply the appropriate formula.. The correct answer is B. $9,600.. This is a common calculation on the Georgia real estate exam.
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