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evablogger [386]
3 years ago
9

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
Mathematics
1 answer:
Olegator [25]3 years ago
4 0
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.
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Ivanshal [37]

Answer:

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Step-by-step explanation:

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Answer:

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Before we use an applet to simulate the selection of random samples from this population, let’s make sure we are clear about who
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Answer:

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Step-by-step explanation:

<u>Explanation</u>:-

<u>Introduction</u>:-

The outcome of a statistical experiment may be recorded either as a numerical value or as a descriptive representation.

<u>Example</u>:-

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