Question

Hilary decided to purchase 3 points in order to lower her interest rate on her

$140,000 mortgage. How much additional money does she need to bring to

closing?

A. $4200

B. $4000

c. $6

D. $400

Answer 1

Answer:

  A.  $4200

Step-by-step explanation:

A "point" is 1% of the loan value, so the cost of 3 points is ...

  0.03 × $140,000 = $4,200

Hilary must bring an additional $4200 to closing.

Answer 2

Answer:  the answer is $4200 APEX