Real Estate Math
A Kansas buyer puts 5% down on a $180,000 home. The lender charges 1.5 discount points. How much are the points in dollars?
A$2,700
B$2,565✓ Correct
C$2,600
D$2,295
Explanation
Loan amount = $180,000 x 95% = $171,000. Points = $171,000 x 1.5% = $2,565. To solve this, multiply the relevant values: $180,000 at 5%.. The correct answer is $2,565.. This is a common calculation on the Kansas real estate exam.
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