Respuesta :
Amount of annual homeowners premium = 0.30 x 483,000 / 100 = $1,449
Monthly homeowners premium = $1,449/12 = $120.75
Total monthly payment = $2,128 + $120.75 = $2,248.75
Monthly homeowners premium = $1,449/12 = $120.75
Total monthly payment = $2,128 + $120.75 = $2,248.75
Susan pays [tex]\boxed{\$ 2248.75}[/tex] as a total monthly payment.
Further Explanation:
Given:
Susan is paying [tex]\$0.30[/tex] per [tex]\$100[/tex] on her [tex]\$483000[/tex] home in homeowners insurance annually.
The annual homeowner’s insurance premium is divided into twelve equal monthly installments to be included on each of her monthly mortgage payments of [tex]\$2128.[/tex]
Explanation:
Susan is paying [tex]\$0.30[/tex] per [tex]\$100.[/tex]
The payment for each dollar can be calculated as follows,
[tex]{\text{Payment for each dollar}} = \$ \dfrac{{0.30}}{{100}}[/tex]
The amount Susan paying can be obtained as follows,
[tex]\begin{aligned}{\text{Amount}} &= \frac{{0.30}}{{100}} \times \left( {483000} \right) \\&= \$ 1449 \\\end{alignedd}[/tex]
Monthly homeowner’s insurance premium can be obtained as follows,
[tex]\begin{aligned}{\text{Monthly premium}} &= \frac{{1449}}{{12}} \\&= \$ 120.75 \\\end{aligned}[/tex]
The total monthly payment that Susan is paying can be obtained as follows,
[tex]\begin{aligned}{\text{Total monthly payment}} &= \$ 2128 + \$ 120.75 \\&= \$ 2248.75 \\\end{aligned}[/tex]
Susan pays [tex]\boxed{\$ 2248.75}[/tex] as a total monthly payment.
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Answer details:
Grade: High School
Subject: Mathematics
Chapter: Mortgage
Keywords: Susan, paying, home, homeowners, insurance, annually, premium, monthly installments, mortgage, payments, total monthly payment, insurance premium, twelve monthly mortgage.
