Question

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) $2,400
b) $2,800
c) $4,200
d) $8,200
e) None of these

Answer 1

Out of the choices given, the points in dollars that cost Megan was $2,400. The correct answer is A.