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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4+(-6)/(-2) = 7
5/2+(-3/2)=1
-3/4-5/6 = 1.58
5/8(-3/5) = -3/8
Answer:
Bonsoir,
f'(-5)=-4/3
f'(-1) =3/4
Step-by-step explanation:
f'(-5) = ?
2 points : (-6,9) and (-3,5)
f'(-5)=(9-5)/(-6-(-3))=-4/3
f'(-1) = ?
2 points : (-3,5) and (1,8)
f'(-1)=(5-8)/(-3-1)=3/4
The lines are perpendicular
Answer:
79 minutes
Step-by-step explanation:
A plane is travelling at 180 meters per seconds
Convert to km/hr
180× 18/5
= 648 km/hr
Since 648 km equals 1 hour then the number of minutes required for the plane to travel 800 km is
= 1/648 × 800
= 1 hour 19 minutes
Conver the time to full minutes
60 minutes = 1 hour
= 60+19
= 79 minutes
Hence the minutes required for the plane to travel 800km is 79 minutes
