Real Estate Math
A buyer in Texas is purchasing a $330,000 home with a 20% down payment. Points cost 1% of the loan amount each. If the buyer buys 2 points, what is the total cost of the points?
A$5,280✓ Correct
B$6,600
C$5,940
D$4,620
Explanation
Loan amount = $330,000 × 0.80 = $264,000. Cost of 2 points = $264,000 × 0.02 = $5,280.
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