Finance
A Tennessee lender charges an origination fee of 1% on a $195,000 loan. What is the origination fee?
A$195
B$1,950✓ Correct
C$19,500
D$975
Explanation
Origination fee = $195,000 × 1% = $1,950. To solve this, multiply the relevant values: $195,000 at 1%.. The correct answer is $1,950.. This is a common calculation on the Tennessee real estate exam.
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