Answer:
$3,200
Explanation:
Data provided in the question:
Points to be paid to lender = 4 points
Amount of loan Jake and Janet are getting = $80,000
Now,
1 point mean 1 percent of the amount borrowed to be paid to the lender
Therefore,
For 4 points
Amount to be paid to the lender will be
= 4% × $80,000
or
= 0.04 × $80,000
or
= $3,200
