In many cases, lenders allow homeowners to include their homeowners insurance premium with their monthly
mortgage payment. tim's home is worth $279,500. if his homeowners insurance premium is $0.33 per $100, how
much is added to his monthly mortgage payment for insurance?

a. $7.69
b. $76.86
c. $92.35
d. $922.35

this is the right answer


b.$76.86

d.  is the answer

$922.35

Explanation: A,B,C are not correct

amount $922.35 added to his monthly mortgage payment for insurance

Explanation:

given data

home worth =  $279,500

insurance premium = $0.33 per $100

to find out

how  much added to his monthly mortgage payment for insurance

solution

we consider here amount of money added to his monthly mortgage = x

and as per given premium = $0.33 per $100

it mean if home worth =  $100

then amount of insurance premium = $0.33

we apply here equation by ratio of insurance premium and home value that is express as

solve it we get

x = $922.35

so that amount $922.35 added to his monthly mortgage payment for insurance

this does not make any sense.. i you can reword that i can maybe you