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OpenStudy (anonymous):
A bank charges 3.25 of a point for the origination fee on a mortgage of $500,000. What is the origination fee? $325 $1,625 $16,250 $3,250
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OpenStudy (anonymous):
500,000*.0325=? the reason you do this is because its charging a 3.25 PERCENT fee, so you bring it down into a percentile
OpenStudy (texaschic101):
it is 3.25% that the bank charges, right ?
OpenStudy (texaschic101):
Chenline is correct :)
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