Real Estate Math
A property sells for $350,000. The buyer pays 3 discount points on a $280,000 loan. What is the cost of the points?
A$8,400✓ Correct
B$10,500
C$7,000
D$8,750
Explanation
Cost of points = $280,000 × 3% = $8,400. Using the values given ($350,000, $280,000), apply the appropriate formula.. The correct answer is $8,400.. This is a common calculation on the Louisiana real estate exam.
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