The amount add to the borrower's monthly payment is $313.33.
Given that lender requires PMI that is 0.8% of the loan amount of $470,000.
A loan's PMI, or personal mortgage insurance, is a type of mortgage insurance used by lenders when making traditional loans such as home loans. A PMI helps cover the loss to the lender (bank) if the borrower stops making monthly mortgage payments on their home loan. Therefore, the PMI can be described as a kind of risk mitigation tool for the bank when the borrower defaults on their EMIs (monthly mortgage payments). So, PMI for a borrower is an additional cost or payment for the borrower on top of his monthly payments i.e. EMI.
Thus, the additional amount of dollars that the borrower has to pay for the PMI on his loan along with his monthly mortgage payments
= Principal Loan amount × (PMI/12)
= $470,000 × (0.8%/12)
= $470,000 × (0.008/12)
= $470,000 × 0.0006666667
=$313.333349
Hence, the additional monthly payment for PMI where lender requires PMI that is 0.8% of the loan amount of $470,000 is $313.33.
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Answer:
In the first half of a basketball game, a player scored 9 points on free throws and then scored a number of 2-point shots. In the second half, the player scored the same number of 3-point shots as the number of 2-point shots scored in the first half. Which expression represents the total number of points the player scored in the game?
a) 2x + 3x + 9
b) 2x + 3 + 9
c) 2x + 3x + 9x
d) 2 + 3x + 9
Answer:
a) 2x + 3x + 9
Step-by-step explanation:
well, let's first notice, all our dimensions or measures must be using the same unit, so could convert the height to liters or the liters to centimeters, well hmm let's convert the volume of 1000 litres to cubic centimeters, keeping in mind that there are 1000 cm³ in 1 litre.
well, 1000 * 1000 = 1,000,000 cm³, so that's 1000 litres.
![\textit{volume of a cylinder}\\\\ V=\pi r^2 h~~ \begin{cases} r=radius\\ h=height\\[-0.5em] \hrulefill\\ V=1000000~cm^3\\ h=224~cm \end{cases}\implies \stackrel{cm^3}{1000000}=\pi r^2(\stackrel{cm}{224}) \\\\\\ \cfrac{1000000}{224\pi }=r^2\implies \sqrt{\cfrac{1000000}{224\pi }}=r\implies \cfrac{1000}{\sqrt{224\pi }}=r\implies \stackrel{cm}{37.7}\approx r](https://tex.z-dn.net/?f=%5Ctextit%7Bvolume%20of%20a%20cylinder%7D%5C%5C%5C%5C%20V%3D%5Cpi%20r%5E2%20h~~%20%5Cbegin%7Bcases%7D%20r%3Dradius%5C%5C%20h%3Dheight%5C%5C%5B-0.5em%5D%20%5Chrulefill%5C%5C%20V%3D1000000~cm%5E3%5C%5C%20h%3D224~cm%20%5Cend%7Bcases%7D%5Cimplies%20%5Cstackrel%7Bcm%5E3%7D%7B1000000%7D%3D%5Cpi%20r%5E2%28%5Cstackrel%7Bcm%7D%7B224%7D%29%20%5C%5C%5C%5C%5C%5C%20%5Ccfrac%7B1000000%7D%7B224%5Cpi%20%7D%3Dr%5E2%5Cimplies%20%5Csqrt%7B%5Ccfrac%7B1000000%7D%7B224%5Cpi%20%7D%7D%3Dr%5Cimplies%20%5Ccfrac%7B1000%7D%7B%5Csqrt%7B224%5Cpi%20%7D%7D%3Dr%5Cimplies%20%5Cstackrel%7Bcm%7D%7B37.7%7D%5Capprox%20r)
now, we could have included the "cm³ and cm" units for the volume as well as the height in the calculations, and their simplication will have been just the "cm" anyway.
Answer:
p(r+1)
Step-by-step explanation:
Hope this helps
Answer:
$0.75
Step-by-step explanation:
To find the answer multiply the amount of money earned by the percentage $14.98 and 5%
turn the percentage into a decimal. divide the number of the percentage by 100 5/100=0.05
multiply this by the amount of money to get 0.05*14.98=0.749. then round answer to two decimal places to get $0.75
