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: He has 7 at the moment, technically, if he still has the bag, he still has all 36
Step-by-step explanation:
Answer:
1.580 Liters
Step-by-step explanation:
We know that 1000 mL = 1 Liter
1580 ml * 1L/1000 ml
1.580 Liters
Hi Sebastian0113,
Your Question:
5.708 x 10^-8 in standard form
Solution:
Decimal Form:
To solve this equation just divide 5.708 by 10 8 times.
= 5.708 / 10 / 10 / 10 / 10 / 10 / 10 / 10 / 10
= 0.000000005708
5.708 x 10^-8 = 0.000000005708
Standard Form:
5.708 x 10^8
5.708 x 10 x 10 x 10 x 10 x 10 x 10 x 10 x 10
= 570,800,000
Answer:
Standard Form - 570,800,000
Decimal Form - 0.0000005708
