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:
Because the kind of compounfds that you try to determine using paper chromatography (organic compounds) are usually not soluble in water. Furthermore, water could react chemically with some of this compounds, because it's a very reactive molecule. You need organic solvents that are mostly inert.
Answer is number one. The number inside the bracket is the time and the number after the equal sign is the height. As you can see, at t=5, height=75.
Answer:
70 degrees
Step-by-step explanation:
x = angle
180 - x = it's supplement
90 - x = it's compliment
(180 - x) - 4(90 - x) = 30
180 - x - 360 + 4x = 30
reducing
3x = 210
x = 70
Answer:
C
Step-by-step explanation:
Per year: 12,986.64 * 1.11 = 14,415.1704 US dollars
Per month: 14,415.1704/12 = 1,201.2642 US dollars
