Susan pays \(\boxed{\$ 2248.75}\) as a total monthly payment.
Further Explanation:
Given:
Susan is paying \(\$0.30\) per \(\$100\) on her \(\$483000\) home in homeowners insurance annually.
The annual homeowner’s insurance premium is divided into twelve equal monthly installments to be included on each of her monthly mortgage payments of \(\$2128.\)
Explanation:
Susan is paying \(\$0.30\) per \(\$100.\)
The payment for each dollar can be calculated as follows,
\({\text{Payment for each dollar}} = \$ \dfrac{{0.30}}{{100}}\)
The amount Susan paying can be obtained as follows,
\(\begin{aligned}{\text{Amount}} &= \frac{{0.30}}{{100}} \times \left( {483000} \right) \\&= \$ 1449 \\\end{alignedd}\)
Monthly homeowner’s insurance premium can be obtained as follows,
\(\begin{aligned}{\text{Monthly premium}} &= \frac{{1449}}{{12}} \\&= \$ 120.75 \\\end{aligned}\)
The total monthly payment that Susan is paying can be obtained as follows,
\(\begin{aligned}{\text{Total monthly payment}} &= \$ 2128 + \$ 120.75 \\&= \$ 2248.75 \\\end{aligned}\)
Susan pays \(\boxed{\$ 2248.75}\) as a total monthly payment.
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Answer details:
Grade: High School
Subject: Mathematics
Chapter: Mortgage
Keywords: Susan, paying, home, homeowners, insurance, annually, premium, monthly installments, mortgage, payments, total monthly payment, insurance premium, twelve monthly mortgage.
