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

question 21

Multiple Choice

Carrie bought a house five years ago for $150,000. At that time she borrowed $140,000 from her bank. The house is now worth $162,000. Her PMI will automatically be dropped when her mortgage balance drops to

• A) $117,000.
• B) $122,000.
• C) $140,000.
• D) $150,000.
• E) $162,000.

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