Finance
In Wyoming, a hard-money lender who charges 15% interest and 5 points on a $200,000 loan would collect which costs at closing?
A$5,000 in points
B$10,000 in points✓ Correct
C$30,000 in points
D$15,000 in points
Explanation
Points = Loan amount x Points percentage = $200,000 x 5% = $10,000 paid at closing. The 15% annual interest would accrue over the loan term.
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