Question

Becca is financing a house for $125,250. She has to pay $425 plus 1.25% for a brokerage fee.
How much are the mortgage brokerage fees?

$1,990.63

$3,556.25

$581.56

$1,565.63

My answer is a

Answer 1

Fee = (0.0125)*(125250) + 425
= 1565.625 + 425
= 1990.63

Yes, a is correct.