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The bank requires that the Dotkoms pay their homeowner's insurance, property taxes,
and mortgage in one monthly payment to the bank. If their monthly mortgage payment
is $1,711.22, their semi-annual property tax bill is $3,239, and their annual homeowner's
insurance bill is $980, how much do they pay the bank each month?

Respuesta :

Using proportions, it is found that they pay the bank $2332.72 each month.

What is a proportion?

A proportion is a fraction of a total amount.

Their payments are given by:

  • Monthly mortgage of $1,711.22.
  • Semi-annual property tax bill is $3,239, that is, it is paid every 6 months, hence 3239/6 = $539.83.
  • Annual insurnce of $980, hence 980/12 = $81.67 each month.

Then, the total amount is:

1,711.22 + 539.83 + 81.67 = $2332.72.

More can be learned about proportions at https://brainly.com/question/24372153

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