Question of the Day

On a $50,000 loan, the borrower is required to pay two discount points. How much does the borrower have to pay the lender in total including the loan amount plus the points?


One discount point equals 1% of the total loan amount, so each point on a $50,000 loan costs the borrower $500. Two points cost $1,000, which becomes part of the buyer's total obligation to the lender- $50,000 for the loan and $1000 for the points equals $51,000 total.

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