Question

If you paid 1.5 points to get a $300,000 loan, how much would you expect to pay

Answer 1

the answer is D

Step-by-step explanation:

Answer 2

$4,500

Step-by-step explanation:

1 point = 1% so 1.5 points = 1.5%

1.5% in decimal form is 0.015, multiply $300,000 by 0.015

= 4,500

So the answer is $4,500, you would expect to pay $4,500

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