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Sam and Joan made an offer of $250,000 asking the seller topay all closing costs. They will put 10% down and pay one discount points at closing. The amount of cash required at closing for Sam and Joan will be?a. $27,250 b. $25,000c. $22,500d. $20,000

Respuesta :

Samawati

Answer:

$27,500

Explanation:

Sam and Joan paid a deposit of 10 % plus one discount point.

one discount point is equivalent to 1 percent, therefore in total sam and Joan made a down payment of 11%

11% of $250,000

=11/100 x 250,000

=0.11 x 250,000

=$27,500