Amy purchased a house for $551,000 and obtained a mortgage for $519,000 she purchased 3 discount points and 2 origination points
what is the cost for each?
A. discount points: $16,530, origination points: $11,020
B. discount points:$15,570: origination points: $10,380
C. discount points:$11,020: origination points:$16,530
D. discount points:$10,380: origination points:$15,579
1 answer:
Discount points are normally a type of prepaid interests that lowers the interest on subsequent payments for mortgage borrowers pay.
Each of the points is given by:
1 point = 1% of the mortgage value.
Therefore,
Cost of discount points = 0.01*519,000*3 = $15,570
Cost of origination points = 0.01*519,000*2 = $10,380
In this regard, option B. is the correct answer on the cost of discount and origination points respectively.
You might be interested in
Answer:
-3(1.5n - 1)
your welcome
You have to first make like terms

**you want the denominator to be 21
I think it’s $1.35 sorry if I’m not correct
Answer:
46.6 ft/sec (to the nearest tenth)
Step-by-step explanation:
There's a common identity useful here: 60 mph = 88 ft/sec.
Mult. 31.8 mph by the conversion factor (88 ft/sec) / (60 mph), obtaining:
46.64 ft/sec.