Final answer:
The bank was charging $117,600 in points.
Step-by-step explanation:
To find out how many points the bank was charging, we can use the formula:
Amount Charged = Total Amount - Loan Amount
In this case, the total loan amount was $120,000 and the amount paid was $2,400. So, the amount charged by the bank would be:
Amount Charged = $120,000 - $2,400 = $117,600
Therefore, the bank was charging $117,600 in points.