Where are the answer choices?
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
The Federal<span> Reserve does </span>not<span> supervise or regulate </span>credit unions<span>. Federally chartered </span>credit unions<span> are regulated by the National </span>Credit Union<span> Administration, while state-chartered </span>credit unions<span> are regulated at the state level. The Fed is one of several banking regulatory agencies at the </span>federal<span> level.</span>
