Finance
A Texas lender charges an origination fee of 1% of the loan amount plus $500. On a $300,000 loan, the total origination fee is:
A$2,500
B$3,000
C$3,500✓ Correct
D$4,000
Explanation
Origination fee = ($300,000 × 0.01) + $500 = $3,000 + $500 = $3,500.
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