Afew years ago, simon powell purchased a home for $225,000. today, the home is worth $400,000. his remaining mortgage balance is $175,000. assuming that simon can borrow up to 75 percent of the market value, what is the maximum amount he can currently borrow against his home?

To find Simon's maximum amount he can borrow against his home you will use the Home Loan Value Formula. 

Home is worth: $400,000
Remaining balance: $175,000
Borrow: up to 75% on home

First, you'll want to take the market value of $400,000 and multiply it by 75% (.75) which gives you $300,000.
Then, you'll need to subtract what Simon owes on the home to find the amount he can borrow. 
$300,000 - $175,000 = $125,000 
Simon can borrow $125,000 against his home.

Well if you pay a 300 dollar premium a year for your insurance that would make your monthly payment 25 dollars a month. That's assuming the 300 dollar premium is for a full year.