Question

Choose the best answer to the following question. Explain your reasoning with one or more complete sentences. What does a loan of $300,000 that carries a 4-point origination fee require as an advance payment? Choose the correct answer below. A. An advance payment of $1,200 is required. Each point is worth between 50 and 100 points depending on the prepayment penalties. B. An advance payment of $1,200 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000. C. An advance payment of $6,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000. D. An advance payment of $12,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000. E. An advance payment of $6,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000. F. An advance payment of $12,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000.

          Choose the best answer to the following question. Explain your reasoning with one or more complete sentences.
What does a loan of $300,000 that carries a 4-point origination fee require as an advance payment?
Choose the correct answer below.
A. An advance payment of $1,200 is required. Each point is worth between 50 and 100 points depending on the prepayment penalties.
B. An advance payment of $1,200 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
C. An advance payment of $6,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000.
D. An advance payment of $12,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
E. An advance payment of $6,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
F. An advance payment of $12,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000.

Choose the best answer to the following question. Explain your reasoning with one or more complete sentences.
What does a loan of 300,000 that carries a 4-point origination fee require as an advance payment?
Choose the correct answer below.
A. An advance payment of1,200 is required. Each point is worth between 50 and 100 points depending on the prepayment penalties.
B. An advance payment of 1,200 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
C. An advance payment of6,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000.
D. An advance payment of 12,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
E. An advance payment of6,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $300,000.
F. An advance payment of 12,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $300,000.

Added by Juan H.

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