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?

The home is insured at $0.30 for every $100 of its value. There are 4,830 groups of $100 in $483,000, so the annual premium is 4,830 × $0.30 = $1,449. Dividing by 12 gives a monthly insurance installment of $120.75; adding that to the $2,128 mortgage payment gives $2,248.75, choice A.

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