A point is a one-time charge equal to ________ of the principal amount borrowed.

A) one-tenth
B) three percent
C) one percent
D) ten percent

Question

A point is a one-time charge equal to ________ of the principal amount borrowed.A) one-tenthB) three percentC) one percentD) ten percent

Vasooda Kumar · Accepted Answer

Final Answer : C, Explanation :  A point is a fee charged by lenders, where one point is equal to one percent of the principal amount borrowed. Therefore, the correct answer is C) one percent.

A point is a one-time charge equal to ________ of the principal amount borrowed.

A) one-tenth
B) three percent
C) one percent
D) ten percent

Definitions

Learning Objectives

Learning Objectives

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