Ben and Carla Manchester plan to buy a condominium. They will obtain a $166,000, 30- year mortgage at 6.0 percent. Their annual property taxes are expected to be $2,628. Property insurance is $696 a year, and the condo association fee is $100 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Do not round intermediate calculations. Round time- value factor to 2 decimal places and final answer to the nearest whole dollar.) Total monthly housing payment
Ben and Carla Manchester plan to buy a condominium. They will obtain a $166,000, 30- year mortgage at 6.0 percent. Their annual property taxes are expected to be $2,628. Property insurance is $696 a year, and the condo association fee is $100 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Do not round intermediate calculations. Round time- value factor to 2 decimal places and final answer to the nearest whole dollar.) Total monthly housing payment
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Ben and Carla Manchester plan to buy a condominium. They will obtain a $166,000, 30-
year mortgage at 6.0 percent. Their annual property taxes are expected to be $2,628.
Property insurance is $696 a year, and the condo association fee is $100 a month.
Based on these items, determine the total monthly housing payment for the
Manchesters. Use Exhibit 9-9. (Do not round intermediate calculations. Round time
value factor to 2 decimal places and final answer to the nearest whole dollar.)
Total monthly housing
payment
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