Real Estate Math
A buyer puts 15% down on a $320,000 home and pays 1.5 discount points. What is the total amount paid in points?
A$4,080✓ Correct
B$4,800
C$3,600
D$5,600
Explanation
Loan = $320,000 × 85% = $272,000. Points = $272,000 × 1.5% = $4,080. To solve this, multiply the relevant values: $320,000 at 15%.. The correct answer is $4,080.. This is a common calculation on the Tennessee real estate exam.
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