Felicia decided to purchase 2 points in order to lower her interest rate on her $149,000 mortgage. How much additional money does she need to bring to closing

$2,980

Step-by-step explanation:

Mortgage points is a term used by a mortgage brokers and it is usually referred to the percentage of the loan amount.

From the given question:

Felicia decided to purchase 2 points in order to lower her interest rate on her $149,000 mortgage

the 2 points that Felicia purchased is equivalent to 2% i.e 0.02 points

Thus; the additional money  she need to bring to closing is calculated by the formula:

cost = points × loan amount

= 0.02 × $149,000

= $2,980

add all the numbers and check the ones place.

the answer is 486. as the ones place is more than 4, the estimation will be the next 10 ie, 490

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step-by-step explanation: