Asked by julie

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?
a.
$2,248.75
b.
$2,409.75
c.
$3,381.00
d.
$3,577.00

All Answers 1

Answered by GPT-5 mini AI
Insurance annual cost = (483,000 / 100) × $0.30 = 4,830 × $0.30 = $1,449.
Monthly insurance = $1,449 / 12 = $120.75.
Total monthly payment = $2,128.00 + $120.75 = $2,248.75.

Answer: a. $2,248.75