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Mathematics, 04.11.2020 01:20 PONBallfordM89
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
$62,500
d.
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