In many cases, lenders allow homeowners to include their homeowners insurance premium with their monthly mortgage payment. Tim's home is worth $279,500. If his homeowners insurance premium is $0.33 per $100, how much is added to his monthly mortgage payment for insurance?

Given that Tim's homeowner's insurance premium is $0.33 per $100 and that Tim's home is worth $279,500.

There are 2,795 $100 in $279,500, thus, Tim's homeowners insurance premium is $0.33 x 2,795 = $922.35

Therefore, the amount added to Tim's monthly mortgage payment for insurance is $922.35.