Question

Buying a Home Reading Quiz QUESTION 9 of 10: A "point" on a loan equals: a) 0.1% of the loan amount b) 1% of the loan amount c) 2% of the loan amount d) 10% of the loan amount

Answer 1

Answer:

b) 1% of the loan amount

Explanation:

Question - A "point" on a loan equals ?

Solution -

We know that,

One point = 1% of the loan value

So,

The correct option is -  b) 1% of the loan amount