The following closing costs were paid on a home loan. Closing Cost
Charge
Loan origination
$320
Title insurance
$473
Attorney’s fees
$915
Appraisal
$415
Recording fees
$103
Escrow
$1,318

If the closing costs were 5% of the loan amount, how much was the loan amount?
a.
$62,580
b.
$70,880
c.
$74,424
d.
$177,200