Albert is purchasing a $179,000 home with a 30-year mortgage at 5.5%.
Because he is not making a down payment. PMI in the amount of
$88.50/month is required for the first two years of the loan. Based on this
information, what is the total cost of this loan?
A. $344,923.03
B. $368,006.40
C. $387,156.20
D. $323,092.10
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