I need your help with two questions attached. Thank you so much! 32. You get a $550,000 mortgage loan with 14 points. What dollar amountdo you pay for points? 33. Calculate total loan costs on a $145,000 loan with a ½% origination fee,4 of a point, $500 brokerage fee, $300 document preparation fee, $375appraisal fee, $552 title insurance fee, $125 closing fee, and $70 forrecording.

A mortgage loan is a kind of safe and secured loan in a situation where an individual can make use…

Answered: 32. You get a $550,000 mortgage loan…

Business

Accounting

32. You get a $550,000 mortgage loan with 14 points. What dollar amount do you pay for points?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need your help with two questions attached. Thank you so much!

32. You get a $550,000 mortgage loan with 14 points. What dollar amount
do you pay for points?

33. Calculate total loan costs on a $145,000 loan with a ½% origination fee,
4 of a point, $500 brokerage fee, $300 document preparation fee, $375
appraisal fee, $552 title insurance fee, $125 closing fee, and $70 for
recording.

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