Finance
A Missouri lender charges a 1% origination fee on a $195,000 loan. What is the origination fee?
A$975
B$1,950✓ Correct
C$2,925
D$3,900
Explanation
Origination fee = $195,000 × 1% = $1,950. To solve this, multiply the relevant values: $195,000 at 1%..
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