Question

I need help PLEASEEEEEEEEEE!:P Susan is paying $0.30 per $100 on her $483,000 home in homeowners insurance annually. If her annual homeowners insurance premium is divided into twelve equal monthly installments to be included on each of her monthly mortgage payments of $2128.00, what is her total monthly payment?

a.
$2,248.75
b.
$2,409.75
c.
$3,381.00
d.
$3,577.00

Answer 1

A

Explanation:

I took the test A is correct

Answer 2

We first need to figure out how much insurance Susan pays annually. For every $100, she pays 30 cents. Well, let's pretend that we have her entire home's value in 100 dollar bills. There will be 4830 bills. On each of those bills, she will pay 30 cents. If we multiply .30 x 4830 we get $1449. This is how much she pays all year- to find out how much she pays each month, we divide by 12. This gives us 120. 75. We include this on her monthly mortgage payment: 120.75 + 2128 and we get A) 2248.75.