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Wally Bee purchased a new home for $580,000 with a $90,000 down payment. He financed the remainder with a 3% mortgage for 30 years. What

Wally Bee purchased a new home for $580,000 with a $90,000 down payment. He financed the remainder with a 3% mortgage for 30 years. What is Wally's level of Private Mortgage Insurance (PMI)?

Group of answer choices

$20,000

$26,000

$32,000

$36,000

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