Answer:
The Gilded Age was a period in American history In which a chunk of its citizens were made wealthy . This gave rise to the people called the robber barons who became wealthy as a result of their monopoly on some sectors of the economy and became an integral part of society. Some examples of robber barons include John D. Rockefeller, Andrew Carnegie, and JP Morgan.
They were known to live a very lavish lifestyle due to their fortunes.
The answer is $3500.
You are simply asking for the equivalent of 2 points for the mortgage of $175,000. Since 1 point is equal to 1% of the mortgage, 2 points is 2% of the mortgage then.
Equation:
Y = P% * X
Y = 2% * 175000
Convert P into decimal: P = 2/100 = 0.02
Y = 0.02 * 175000
Y = 3500
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