Mathematics, 27.02.2021 22:20 paco38

You have found a home that you are interested in purchasing. Instead of a conventional loan, you agree to pay the premium for the private mortgage insurance (PMI), which finances 95% of the loan. The amount of the home is listed
at $125,000. From the given information, determine the amount needed for the down payment to qualify for the PMI
loan.
a. $6,250
C. $625
b. $118,750
d. $62,500

Answers: 2

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