What is the maximum amount of total losses to the lender, Finance Basics

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What is the maximum amount of total losses to the lender

Problem

Lilian bought a house that costs $7110. Liliana got an 89% LTV loan to buy it. The lender demanded that Liliana buy private mortgage insurance to insure the portion of the loan over 80% LTV. What is the maximum amount of total losses to the lender that the private insurance coverage will cover in case she defaults? State your answer as a number rounded to two decimal points.

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Finance Basics: What is the maximum amount of total losses to the lender

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Finance Basics: What is the maximum amount of total losses to the lender

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