12.
A bank charges 2.3 discount points on a loan of $183,900. What is the cost of the points? (2 points)

Question

12. 
A bank charges 2.3 discount points on a loan of $183,900. What is the cost of the points? (2 points)

Lars · Answer

Do you know what 183,900 x 2.3% is?

Lars · Answer

@lars wrote:

Do you know what 183,900 x 2.3% is?

Once you do that, you get your answer.

LizzyGlizzy1607 · Answer

It could be 0.023 because when you move wo decimal places to the right, it forms a percentage, in accounting when we find discounts we would do 183,900 x 0.023 which equals a discount of 4,229.7. Then the amount remaining is takimg the 183,900 - 4229.7 which equals 179670.3 (after the discount).

LizzyGlizzy1607 · Answer

@lizzyglizzy1607 wrote:

It could be 0.023 because when you move wo decimal places to the right, it forms a percentage, in accounting when we find discounts we would do 183,900 x 0.023 which equals a discount of 4,229.7. Then the amount remaining is takimg the 183,900 - 4229.7 which equals 179670.3 (after the discount).

the 0.023 is 2.3 as a percentage in decimal form