Question

Jakob is purchasing a condominium for $347,500 and has financed 90% of it. He has purchased 2 discount points, has to pay a 1.75% origination fee of $100 plus .25% of the loan. What are his total fees that he must pay?
a.$12,610.01
B$13,031.25
c.$13,218.13
d.$13,913.13
I know that 2 discount points equal .02 and that is supposed to be multiplied by the principle or something.

Answer 1

@Teddyiswatshecallsme

Answer 2

I have literally no idea.

Answer 3

@Hotchellerae21

Answer 4

@e.mccormick @Hero @texaschic101