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Posted on Jul 23, 2024

Larry Mager purchased a ski lodge in Telluride for $ 8 5 0 , 0 0 0 . His bank is willing to finance 7

Larry Mager purchased a ski lodge in Telluride for $

850, 000 .

His bank is willing to finance

70 %

of the purchase price. As part of the mortgage closing costs, Larry had to pay

4 \frac{1}{4}

discount points. How much did this amount to

?

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