Real Estate Math
A buyer's loan has a 1% origination fee on a $240,000 mortgage. How much is the origination fee?
A$240
B$1,200
C$2,400✓ Correct
D$24,000
Explanation
Origination fee = $240,000 × 1% = $2,400. To solve this, multiply the relevant values: $240,000 at 1%.. The correct answer is $2,400.. This is a common calculation on the Nebraska real estate exam.
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