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1. Home price = $220,000, 10% down, 30-year amortization, 3.6% annual rate. At what time (months lapsed) must your lender desist charging PMI? 2. $170,000

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1. Home price = $220,000, 10% down, 30-year amortization, 3.6% annual rate. At what time (months lapsed) must your lender desist charging PMI? 2. $170,000 home value. No mortgage. RAM lender has agreed to a $120,000 RAM. 12 years. 4.25%. PMTS beginning of each month. Find: monthly payment received from lender, interest paid in month one, and total interest. 1. Home price = $220,000, 10% down, 30-year amortization, 3.6% annual rate. At what time (months lapsed) must your lender desist charging PMI? 2. $170,000 home value. No mortgage. RAM lender has agreed to a $120,000 RAM. 12 years. 4.25%. PMTS beginning of each month. Find: monthly payment received from lender, interest paid in month one, and total interest

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