Real Estate MathLoan_and_interest_calculationsMEDIUM
A borrower takes out a loan for $180,000 and pays 1 discount point at closing. How much do the points cost?
Correct Answer
B) $1,800
One point equals 1% of the loan amount. 1 point = 1%, so $180,000 × 1% = $1,800.
Answer Options
A
$180,000B
$1,800C
$900D
$1,800.01Why This Is the Correct Answer
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Background Knowledge for Real Estate Math
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Related Topics & Key Terms
Key Terms:
loan_and_interest_calculationspointsdiscount_pointsfinancing_math
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