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John Smith is buying a condominium for $ 1 9 0 , 0 0 0 . He is putting down $ 2 0 , 0

John Smith is buying a condominium for $

190, 000 .

He is putting down $

20, 000

at the time of closing. John must pay in addition

2

points. Calculate the cost of the points.

Cost of the points

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