Finance
A buyer's closing costs on a $295,000 purchase include a 1% origination fee, $850 appraisal, $400 title insurance, and $600 attorney fee. What are total closing costs?
A$2,650
B$3,295
C$4,795✓ Correct
D$4,095
Explanation
Origination fee: $295,000 × 0.01 = $2,950. Appraisal: $850. Title: $400. Attorney: $600. Total: $2,950 + $850 + $400 + $600 = $4,800.
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