Mathematics, 03.10.2019 07:50 Jinesha

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

Answers: 2

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Answers

Answer from: lexadoodle8945

Option A is the answer.

Explanation:

Given is :

Susan is paying $0.30 per $100 on her $483,000 home in homeowners insurance annually. So, this amount becomes :

(0.30*483000)/100 = $1449

So, monthly homeowners insurance premium becomes =

$\frac{1449}{12}$ = $120.75

As Susan pays $2128 mortgage payment also, her total payments become = 2128+120.75 = $2248.75

Hence, option A is the answer.

Answer from: Donlito6997

The total monthly payment of Susan is $\boxed{\$ 2248.75}$ . Option (a) is correct.

Further Explanation:

Given:

The options are as follows,

(a). $\$2248.75$

(b). $\$2409.75$

(c). $\$3381.00$

(d). $\$3577.00$

Explanation:

Susan is paying $\$0.30$ per $\$100$ on her $\$483000$ 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 $\$2128.$

The amount Susan paying can be obtained as follows,

$\begin{aligned}{\text{Amount}} &= \frac{{0.30}}{{100}} \times \left( {483000} \right) \\&= \$ 1449 \\\end{aligned}$

Monthly homeowner’s insurance premium can be obtained as follows,

$\begin{aligned}{\text{Monthly premium}} &= \frac{{1449}}{{12}} \\&= \$ 120.75 \\\end{aligned}$

The total monthly payment can be obtained as follows,

$\begin{aligned}{\text{Total monthly payment}} &= \$ 2128 + \$ 120.75 \\&= \$ 2248.75 \\\end{aligned}$

The total monthly payment of Susan is $\boxed{\$ 2248.75}$ . Option (a) is correct.

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Answer details:

Grade: High School

Subject: Mathematics

Chapter: Loan Schedule

Keywords: Susan, paying, home, homeowners, insurance, annually, premium, monthly installments, mortgage, payments, total monthly payment, insurance premium, twelve monthly mortgage.

Answer from: Quest

answer: ouch. thats difficult

step-by-step explanation:

Answer from: Quest

the answer is a

step-by-step explanation: