Suppose you obtain a 20 year mortgage loan of 194,000$ at an annual interest rate of 8.2%. The annual property tax bill is 978$ and the annual fire insurance premium is 482$. Find the total monthly payment for the mortgage, property tax, and fire insurance. Round answer to nearest cent.
Suppose you obtain a 20 year mortgage loan of 194,000$ at an annual interest rate of 8.2%. The annual property tax bill is 978$ and the annual fire insurance premium is 482$. Find the total monthly payment for the mortgage, property tax, and fire insurance. Round answer to nearest cent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Suppose you obtain a 20 year mortgage loan of 194,000$ at an annual interest rate of 8.2%. The annual property tax bill is 978$ and the annual fire insurance premium is 482$. Find the total monthly payment for the mortgage, property tax, and fire insurance. Round answer to nearest cent.
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