susan is paying $0.30 per $100 on her $483,000 home in homeowners insurance annually. if her annual…

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?\na. $2,248.75\nb. $2,409.75\nc. $3,381.00\nd. $3,577.00

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?\na. $2,248.75\nb. $2,409.75\nc. $3,381.00\nd. $3,577.00

Answer

Answer:

A. $$2,248.75$

Explanation:

Step1: Calculate annual insurance premium

First, find out how many $$100$ - units are in $$483,000$. $\frac{483000}{100}=4830$. Then, the annual insurance premium is $0.30\times4830 = 1449$ dollars.

Step2: Calculate monthly insurance premium

Divide the annual premium by 12. $\frac{1449}{12}=120.75$ dollars.

Step3: Calculate total monthly payment

Add the monthly insurance premium to the monthly mortgage payment. $2128 + 120.75=2248.75$ dollars.