The home that you want to purchase requires that you pay 3 points towards a $225,600 loan. determine the cost of the home after the 3 points have been applied.
a.
$225,600
c.
$230,112
b.
$227,856
d.
$232,368

d. $232,368

Step-by-step explanation:

Given: The price of home = $225,600

Assume there is no down payment, then the mortgage amount = $205,000

We know that one point costs 1 % of mortgage amount

⇒ 3 points = 3% of mortgage amount

Therefore, the cost of the home after the 3 points have been applied

Hence, 'd' is the right option.

d. $232,368

Step-by-step explanation:

Given: The price of home = $225,600

Assume there is no down payment, then the mortgage amount = $205,000

We know that one point costs 1 % of mortgage amount

⇒ 3 points = 3% of mortgage amount

Therefore, the cost of the home after the 3 points have been applied

Hence, 'd' is the right option.

correct answer:

a + bi

b.-4 units

all you   do is count how many times you move