Real Estate Math
A buyer needs a loan of $340,000. The lender requires a 1% origination fee. How much is the origination fee?
A$3,400✓ Correct
B$3,600
C$4,000
D$34,000
Explanation
Origination fee = $340,000 × 1% = $3,400. To solve this, multiply the relevant values: $340,000 at 1%..
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