If you buy a home with less than $20\%$ down, you will pay an additional monthly fee, PMI $($private mortgage insurance$),$ until you reach $20\%$ equity. Keep track of when you reach $20\%$ equity so you can request to have your PMI removed. Ken Buckmiller$$s home recently appraised at $$291,000.$ His mortgage was for $$276,000$ at $5\%$ for $30$ years with PMI of $$239\mathrm{.}17$ per month. What is his monthly payment plus PMI? His mortgage balance is currently $$174,600.$ Has he reached $20\%$ equity? $($Use Table $15\mathrm{.}1.)$