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antiseptic1488 [7]
3 years ago
14

Help meeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Mathematics
1 answer:
Maksim231197 [3]3 years ago
5 0

Answer:

1. No

2. No

3. No

4. Yes

Step-by-step explanation:

Insert each y value into the equation. If it equals -14, then it is a solution to the equation. The only one of these y values that is a solution is the last one, -2.

8 * (-2) = -16

-16 + 2 = -14

So y = -2 is a solution.

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A lender requires PMI that is 0.8% of the loan amount of $470,000. How much (in dollars) will this add to the borrower's monthly
Ainat [17]

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.

Learn more about mortgage payment from here brainly.com/question/10400598

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2 years ago
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