215k views
0 votes
Jenny is buying a house for $335,000. She obtains a mortgage in the amount of $186,000 at a 5.5% fixed rate. The bank offers a 5.25% interest rate if Jenny pays 3.75 points. What is the cost of points for this mortgage rounded to the nearest dollar.

A) $10,230
B) $12,563
C) $9765
D) $6975

User Dylan
by
6.1k points

1 Answer

1 vote
Answers D : 3.75/100=3/80
3/80 x 186000 = $6975
User Wes Palmer
by
6.6k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.