calcula el mortgage insurance de un préstamo convencional in javascript

To calculate mortgage insurance for a conventional loan, you can use the following formula:

(Mortgage Amount * Mortgage Insurance Rate) / 12

Where Mortgage Amount is the amount of the loan and Mortgage Insurance Rate is a percentage determined by the lender, based on the loan-to-value ratio (LTV) and the borrower's credit score. As an example, let's say the Mortgage Amount is $200,000 and the Mortgage Insurance Rate is 0.5%. The calculation would be:

(200000 * 0.005) / 12 = $83.33

So the monthly mortgage insurance premium would be $83.33.

Here is a sample code snippet in JavaScript:

index.tsx
const mortgageAmount = 200000;
const mortgageInsuranceRate = 0.5 / 100; // convert percentage to decimal
const mortgageInsurance = (mortgageAmount * mortgageInsuranceRate) / 12;
console.log(mortgageInsurance);
210 chars
5 lines

Output:

index.tsx
83.33333333333334
18 chars
2 lines