Real Estate Math
A property is purchased for $225,000 with a 10% down payment. The buyer pays 2 discount points. What is the total amount paid for the points?
A$4,500
B$2,250
C$4,050✓ Correct
D$2,025
Explanation
Loan amount = $225,000 × 90% = $202,500. Points = $202,500 × 2% = $4,050.
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