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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 and a brokerage fee of $100 plus 0.25% of the loan. What are his total fees that he must pay?

Respuesta :

navarroscar

Answer:

he has to pay $ 6963

Explanation:

We need to calculate the percent of every fee in the exercise starting with the value of the purchase, like that:

purchase  347,500

financing 90% 347500*90% 312,750

1.75% origination fee of 347500 6,081

brokerage fee                            100

loan 0.25% of 312.750                    782

Total fees                                 6,963