Brett Bought a House Five Years Ago for $150,000

question 85

Multiple Choice

Brett bought a house five years ago for $150,000.At that time he borrowed $140,000 from his bank.The house is now worth $162,000.If he wants to stop paying his private mortgage insurance,he can request termination of PMI.The current value of his mortgage must be no higher than

• A) $122,000.
• B) $126,360.
• C) $140,000.
• D) $150,000.
• E) $162,000.