Real Estate Math
A property sells for $410,000. The buyer finances 90% and pays a 0.9% PMI rate. What is the annual PMI cost?
A$277✓ Correct
B$2,700
C$3,690
D$4,100
Explanation
Loan amount = $410,000 × 90% = $369,000. Annual PMI = $369,000 × 0.
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