If you buy a home with less than 20% down, you will pay an additional monthly fee, PMI (private mortgage insurance), until you reach 20% equity. Keep track of when you reach 20% equity 50 you can request to have your PMI removed. Ken Buckmiller's home recently appraised at $297,000. His mortgage was for $282,000 at 5% for 30 years with PMI of $299.17 per month. What is his monthly payment plus PMI? His mortgage balance is currently $183,000. Has he reached 20% equity? (Use Table 151) Note: Round your intermediate calculations and final answer to the nearest cent. TABLE 15.1 Amortizationa table (mocigage principal and interest pre 51,0001)