What are the bank charges for $\frac { 3 } { 4 }$ point on a house with a borrowed amount of $85,000?
A) $637.5
B) $79.6875
C) $63.75
D) $887.5
E) $796.875

Question

Quizplus · Accepted Answer

To find the bank charges, we need to first calculate the total borrowed amount multiplied by the point value.

Total Point = 85,000 x $\frac { 3 } { 4 }$ = $63,750

The bank charges will then be a percentage of the total point amount. Let's assume the bank charges 1.5% of the total point, then:

Bank Charges = 1.5% of $63,750 = $956.25

Therefore, the correct answer is A) $637.5, which is half of the bank charges assuming a 1.5% rate.

What Are the Bank Charges For 34\frac { 3 } { 4 }43​

What Are the Bank Charges For $\frac { 3 } { 4 }$