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A Savings and Loan Institution Is Offering Mortgage Loans That 12\frac { 1 } { 2 }

Question 99

Multiple Choice

A savings and loan institution is offering mortgage loans that have a loan origination fee of 5 12\frac { 1 } { 2 } points. Find the loan origination fee when a home is purchased with a loan of $202,000.


A) $11,160
B) $11,110
C) $11,100
D) $11,115
E) $11,560

Correct Answer:

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