James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.) InterestRate (%)3.503.754.004.254.504.755.005.255.505.756.006.256.506.757.007.257.507.758.008.258.508.759.009.259.509.7510.0010.2510.5010.7511.0011.2511.5011.7512.005Years18.1918.3018.4218.5318.6418.7618.8718.9919.1019.2219.3319.4519.5719.6819.8019.9220.0420.1620.2820.4020.5220.6420.7620.8821.0021.1221.2521.3721.4921.6221.7421.8721.9922.1222.2410Years9.8910.0110.1210.2410.3610.4810.6110.7310.8510.9811.1011.2311.3511.4811.6111.7411.8712.0012.1312.2712.4012.5312.6712.8012.9413.0813.2213.3513.4913.6313.7813.9214.0614.2014.3515Years7.157.277.407.527.657.787.918.048.178.308.448.578.718.858.999.139.279.419.569.709.859.9910.1410.2910.4410.5910.7510.9011.0511.2111.3711.5211.6811.8412.0020Years5.805.936.066.196.336.466.606.746.887.027.167.317.467.67.757.908.068.218.368.528.688.849.009.169.329.499.659.829.9810.1510.3210.4910.6610.8411.0125Years5.015.145.285.425.565.705.855.996.146.296.446.606.756.917.077.237.397.557.727.888.058.228.398.568.748.919.099.269.449.629.809.9810.1610.3510.53PL30Years4.494.634.774.925.075.225.375.525.685.846.006.166.326.496.656.826.997.167.347.517.697.878.058.238.418.598.788.969.159.339.529.719.9010.0910.2935Years4.134.284.434.584.734.895.055.215.375.545.705.876.046.216.396.566.746.927.107.287.477.657.848.038.228.418.608.798.989.189.379.569.769.9610.1640Years3.874.034.184.344.504.664.824.995.165.335.505.685.856.036.216.406.586.776.957.147.337.527.717.918.108.308.498.698.899.089.289.489.689.8810.08

James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.)

James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.)

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

100%

Interest
Rate (%)
3.50
3.75
4.00
4.25
4.50
4.75
5.00
5.25
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
7.50
7.75
8.00
8.25
8.50
8.75
9.00
9.25
9.50
9.75
10.00
10.25
10.50
10.75
11.00
11.25
11.50
11.75
12.00
5
Years
18.19
18.30
18.42
18.53
18.64
18.76
18.87
18.99
19.10
19.22
19.33
19.45
19.57
19.68
19.80
19.92
20.04
20.16
20.28
20.40
20.52
20.64
20.76
20.88
21.00
21.12
21.25
21.37
21.49
21.62
21.74
21.87
21.99
22.12
22.24
10
Years
9.89
10.01
10.12
10.24
10.36
10.48
10.61
10.73
10.85
10.98
11.10
11.23
11.35
11.48
11.61
11.74
11.87
12.00
12.13
12.27
12.40
12.53
12.67
12.80
12.94
13.08
13.22
13.35
13.49
13.63
13.78
13.92
14.06
14.20
14.35
15
Years
7.15
7.27
7.40
7.52
7.65
7.78
7.91
8.04
8.17
8.30
8.44
8.57
8.71
8.85
8.99
9.13
9.27
9.41
9.56
9.70
9.85
9.99
10.14
10.29
10.44
10.59
10.75
10.90
11.05
11.21
11.37
11.52
11.68
11.84
12.00
20
Years
5.80
5.93
6.06
6.19
6.33
6.46
6.60
6.74
6.88
7.02
7.16
7.31
7.46
7.6
7.75
7.90
8.06
8.21
8.36
8.52
8.68
8.84
9.00
9.16
9.32
9.49
9.65
9.82
9.98
10.15
10.32
10.49
10.66
10.84
11.01
25
Years
5.01
5.14
5.28
5.42
5.56
5.70
5.85
5.99
6.14
6.29
6.44
6.60
6.75
6.91
7.07
7.23
7.39
7.55
7.72
7.88
8.05
8.22
8.39
8.56
8.74
8.91
9.09
9.26
9.44
9.62
9.80
9.98
10.16
10.35
10.53
PL
30
Years
4.49
4.63
4.77
4.92
5.07
5.22
5.37
5.52
5.68
5.84
6.00
6.16
6.32
6.49
6.65
6.82
6.99
7.16
7.34
7.51
7.69
7.87
8.05
8.23
8.41
8.59
8.78
8.96
9.15
9.33
9.52
9.71
9.90
10.09
10.29
35
Years
4.13
4.28
4.43
4.58
4.73
4.89
5.05
5.21
5.37
5.54
5.70
5.87
6.04
6.21
6.39
6.56
6.74
6.92
7.10
7.28
7.47
7.65
7.84
8.03
8.22
8.41
8.60
8.79
8.98
9.18
9.37
9.56
9.76
9.96
10.16
40
Years
3.87
4.03
4.18
4.34
4.50
4.66
4.82
4.99
5.16
5.33
5.50
5.68
5.85
6.03
6.21
6.40
6.58
6.77
6.95
7.14
7.33
7.52
7.71
7.91
8.10
8.30
8.49
8.69
8.89
9.08
9.28
9.48
9.68
9.88
10.08

Expert Solution

Step 1

NOTE: Refresh your page if you can't see any equations.

here we have

L=96500

r=4%

t=15 years

The property taxes are $3,900 per year

The hazard insurance premium is $764.50 per year

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