Question

Janet has a monthly mortgage payment of $750. Her annual property taxes

are $1200, her PMI is $55/month, and her homeowners insurance is $800 per
year. What is her total monthly mortgage payment?
O A. $2660.00
O B. $1298.09
O c. $971.67
O D. $221.67

Answer 1

Monthly mortgage payment is $971.67.

Explanation:

Janet, has a monthly mortgage payment of $750 and her PMI is $55 per month.

Her annual property taxes are $1200.

Hence, her monthly tax will be $
`(1200)/(12) = 100` [Since 1 year = 12 month].

Her homeowners insurance costs $800 per year. This will cost
`(800)/(12) = 66.67` per month.

Total monthly mortgage payment will be $(
`750 + 55 + 66.67 + 100`) = $971.67.