Question

A $75,000 loan requires a $1,875 discount point to be paid by seller and a $375 discount point to be paid by the buyer. This is how many total discount points?

Answer 1

Answer:

C. 3%

Explanation:

Given that

I = 1875 + 375 = 2250

V = 75000

Recall that,

I/V = R

So,

= 2250/75000

= 0.03

To percentage = 0.03 × 100

= 3%