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A bank requires a borrower to pay 1 ½ points for a loan. Find the amount of the loan origination fee for a loan of $89,000.

A bank requires a borrower to pay 1 ½ points for a loan. Find the amount of the loan origination fee for a loan of $89,000.
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2 votes
A bank requires a borrower to pay 1 ½ points for a loan. Find the amount of the loan origination fee for a loan of $89,000.

asked
User JIST
by
7.7k points

1 Answer

2 votes
0.015×89,000
=1,335
..................
answered
User Praneeth Ramesh
by
8.3k points
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