Question: George is applying for a loan in connection with his home purchase.The mortgage broker informs George that, although George's credit is back, he can still

George is applying for a loan in connection with his home purchase.The mortgage broker informs George that, although George's credit is back, he can still get a decent interest rate on his loan if he pays three discount points on his loan amount of 450,000 which he needs to buy the $500,000 home.George says that will be fine; however, he then calculates the amount of the three discount points to be:------------?

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