Real Estate Math
A NH buyer puts 25% down on a $340,000 home. At closing, the buyer also pays 1.5 discount points. What is the total dollar amount of the points paid?
A$3,825✓ Correct
B$5,100
C$2,550
D$4,250
Explanation
Loan amount = $340,000 × (1 − 0.25) = $255,000. 1.5 points = 1.5% × $255,000 = $3,825. To solve this, multiply the relevant values: $340,000 at 25%.. The correct answer is $3,825.. This is a common calculation on the New Hampshire real estate exam.
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