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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?
a.$3,500
b.$3,750
c.$4,100
d.$5,175

Respuesta :

Hagrid
$1, 750 is 1% of your borrowed amount on mortgage. Since you will pay in 2 points, the amount will be $3,500 ($1,750 multiplied by 2).  

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