Real Estate Math
A Massachusetts property with a purchase price of $750,000 is purchased with a 20% down payment. The lender charges 2 discount points. What is the cost of the discount points?
A$12,000✓ Correct
B$15,000
C$10,000
D$6,000
Explanation
Loan amount = $750,000 × 80% = $600,000. Discount points = $600,000 × 2% = $12,000.
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