Real Estate Math
What is the total cost of 6 discount points on a $300,000 South Carolina mortgage?
A$6,000
B$12,000
C$18,000✓ Correct
D$24,000
Explanation
Each point = 1% of loan amount. 6 points = 6% × $300,000 = $18,000. Using the values given ($300,000), apply the appropriate formula.. The correct answer is $18,000.. This is a common calculation on the South Carolina real estate exam.
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