Sally and Dan must pay 2 points on their new $65,000 loan. What will they have to pay at closing for the points?

Respuesta :

Answer:

The correct answer is "$1,300"

Explanation:

Sally and Dan have to pay $1,300 at closing for the points.

Normally a point is worth 1% or 0.01, however they must pay 2 points

Two points = 2% or 0.02

If you multiplicate the value by the number of points  

$65,000 x .02 = $1,300    or    $65,000 x 2%= $1,300