Skeenan9496 Skeenan9496

24-05-2017
Mathematics

contestada

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 a $175,000 mortgage. How much will you pay in points?

Respuesta :

Aliwohaish12 Aliwohaish12

24-05-2017

Hi there:)

One point is 1%
Two points 2%

You want to pay two points so
175,000×0.02=3,500 ....answer

Hope it helps

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almohsnihussein123 almohsnihussein123

14-04-2021

Answer: a) $3,500

Step-by-step explanation:

I got it right

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