Real Estate Math
A Maine buyer obtains a $340,000 mortgage. The origination fee is 1% of the loan amount. The origination fee is:
A$1,700
B$3,400✓ Correct
C$5,100
D$6,800
Explanation
Origination fee = $340,000 × 1% = $3,400. To solve this, multiply the relevant values: $340,000 at 1%..
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