A point is 1% of your borrowed amount on a mortgage. You want to pay 2 points to get a 0. 5% reduction in your interest rate on a $175,000 mortgage. How much will you pay in points?.

the answer is d on edge

step-by-step explanation:

could u provide us some answer choices or hmm idk maybe a table for us to anser with ? ?

yes, gavin is right.

step-by-step explanation:

gavin is correct. 

this problem is about converting 9% per year to how many percent per quarter. the rate is still the same. it only differed in the time period. so, through dimensional analysis,

9% per year  × (1 year / 4 quarters) = 2.25% per quarter

if he was asked to convert 9% per year to how many percent per quarter  compounded quarterly, then you will not simply divide by four. this is because compounding is not linear.

hope this , have a good day. c;