Answer:
Total cost of All fee = $10,000
Step-by-step explanation:
Given:
Mortgage amount = $400,000
Origination fee = 0.2%
Intangible tax = 0.4%
Discount point = 1.9
Find:
Total cost of All fee
Computation:
Total cost of All fee = (Mortgage amount)(Origination fee) + (Mortgage amount )(Intangible tax) + (Mortgage amount )(Discount point)
Total cost of All fee = ($400,000)(0.2%) + ($400,000)(0.4%) + ($400,000)(1.9/100)
Total cost of All fee = $800 + $1,600 + $7,600
Total cost of All fee = $10,000
