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ANSWER QUICK WILL MARK BRAINLIEST
PMI (Private Mortgage Insurance) protects the lender in case the borrower cannot make the loan payments. It is often required
when the amount of the loan is close to the value of the home. PMI typically annually costs about 75% of the entire loan. On a
$300,000 loan what would you be paying per month?
(Be sure to use a $ and 2 decimal places)

Respuesta :

Answer:

the monthly payment is $18,750

Step-by-step explanation:

The computation of the monthly payment is shown below:

= (Loan amount × given percentage) ÷ number of months in a year

= ($300,000 × 75%) ÷ 12 months

= $18,750

Hence, the monthly payment is $18,750

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