Real Estate Math
A North Dakota lender charges an origination fee of 1.5% on a $195,000 loan. The origination fee is:
A$2,925✓ Correct
B$1,950
C$3,900
D$975
Explanation
Origination fee = Loan amount × Origination rate = $195,000 × 1.5% = $2,925.
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