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Nuetrik [128]
3 years ago
6

Im really struggling with these questions can anyone help me?

Advanced Placement (AP)
1 answer:
kifflom [539]3 years ago
5 0
When adding a photograph, please use proper orientation. That way, we can help you.
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A "point" is 1% of your borrowed amount on a mortgage. You want to pay 2 points to get a 0.5% reduction in your interest rate on
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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:
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Convert P into decimal: P = 2/100 = 0.02

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