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12 December, 17:22

A mortgage broker charges 1000 plus 0.5% of the mortgage amount. What is the mortgage broker fee for an 89,000 mortgage?

A. $445

B. $450

C. $1,445

D. $1,500

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Answers (1)
  1. 12 December, 19:40
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    Hi there! The answer is C.

    To find our answer we must multiply 89,000 by 0.5% (which is the same as multiplying by 0.005) and next add up 1000. We get:

    0.005 * 89,000 + 1,000 = 445 + 1000 = 1,445.

    Therefore, the mortgage broker fee is $1,445.
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