Question

*Financial Algebra*
Julianne is buying a house for $385,000. She obtains a mortgage in the amount of $216,000 at a 6.5% fixed rate. The bank offers a 6.25% interest rate if Julianne pays 3.25 points. What is the cost of points for this mortgage rounded to the nearest dollar?

$13,500

$12,513

$7,020

$14,040

Answer 1

Do I (6.25%)(3.25)

Answer 2

what did u get when u did that

Answer 3

0.203125

Answer 4

3.25 * 216000 ?

Answer 5

I got 702000 is that right ?

Answer 6

SO yea that is right that is what I got to :)

Answer 7

Good job! :)

Answer 8

thanks @lulu22 #300

Answer 9

welcome just need ask and I will help