A borrower signs a loan agreement for $50,000. Out of this, the lender charges a $500.00 loan origination fee and two discount points. How much cash does the borrower get?
A) $46,600
B) $47,000
C) $48,500
D) $49,000

Name: A borrower signs a loan agreement for $50,000. Out of this, the lender charges a $500.00 loan origination fee and two discount points. How much cash does the borrower get? A) $46,600 B) $47,000 C) $48,500 D) $49,000
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Question

Quizplus · Accepted Answer

50,000 - 500 - (50,000 x .02)= 48,500

A Borrower Signs a Loan Agreement for $50,000