QUESTION 10 of 10: 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
$100,000 loan what would you be paying per month?
a) $62.50
b) $75.25
c) $255.25
Od) $750.50