Answer:
3)
i)
ii)
4)
i)
ii)
Step-by-step explanation:
We perform a simple linear regression analysis in megastat software to determine the line of best fit for both relations and their associated correlation coefficients.
How come it’s a right triangle, I think you do a2+b2=C2. Therefore, you do 9.4 times 9.4 and then 15.1 times 15.1. So it will be 9.4 + b2=15.1. 88.36+ b2=228.01. Then you subtract that and it will be 139.65. Then you do square roots because you are trying to get rid of the second power. And the final answer is 11.81736011. How they told you to round it to the nearest tenth, I will be 11.8. I think this is the answer.
Does that say find M/_T. ( /_ is my way of making the angle symbol
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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