Question

*Financial Algebra*[Correct Me]{Work Shown}
Create your own scenario of purchasing a home and include the mortgage amount. Solve for each calculation below and show your work.


Calculate the documentary stamp tax on the mortgage if this fee in your state is $0.35 per $100 or portion thereof.
Determine how many mortgage points will be purchased and calculate the cost.
Determine the mortgage broker fee and calculate the cost.

Answer 1

1.) (115,000)*(0.35)/100) = 402.5
2.)402.5
3.)