Jackie is considering obtaining a mortgage of $333,000.A lower APR is available,but she must pay 1.75 points to buy the rate down.How much must Jackie pay in dollars?

Question

Quizplus · Accepted Answer

To find out how much Jackie must pay in dollars to buy the rate down, we need to calculate the points. 
1.75% of $333,000 = $5,828. Therefore, Jackie must pay $5,828 to obtain the lower APR. Option C is the correct answer. Option A, B, and D are not correct as they do not match the calculated result.

Jackie Is Considering Obtaining a Mortgage of $333,000