A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 2 years ago
Megan Mei is charged 2 points on a $120,000 loan at time of closing. The original price of the home before the down payment was $140,000. The points in dollars cost Megan:
a)$2,400b)$2,800c)$4,200d)$8,200e)None of these
 2 years ago
Megan Mei is charged 2 points on a $120,000 loan at time of closing. The original price of the home before the down payment was $140,000. The points in dollars cost Megan: a)$2,400b)$2,800c)$4,200d)$8,200e)None of these

This Question is Closed

slaaibak
 2 years ago
Best ResponseYou've already chosen the best response.0I'm not sure what you mean by "charged 2 points"

Sharkbait
 2 years ago
Best ResponseYou've already chosen the best response.0it means 2% of the mortgage.

Sharkbait
 2 years ago
Best ResponseYou've already chosen the best response.0I don't know if it is off the 120,000 or the 140,000?

slaaibak
 2 years ago
Best ResponseYou've already chosen the best response.0Well, I'd say it's on the 120 000, since the sentence says "2 points on a $120,000 loan" So I'd go with 2400

Sharkbait
 2 years ago
Best ResponseYou've already chosen the best response.0Thanks. how do you get points for helping me?
Ask your own question
Ask a QuestionFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.