Mortgage of ($ 87,690) at (6.2 %) interest for 30 years. Assessed value of the home is

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Mortgage of $\$ 87,690$ at $6.2 \%$ interest for 30 years. Assessed value of the home is $\$ 75,600$. Property taxes come to $5.65 \%$ of assessed value. Home insurance of $\$ 815$ paid every 6 months.

Find the total monthly payment including both the mortgage payment and the escrow payment.

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Contemporary Mathematics

ISBN: 9781711470559

1st Edition

Authors: OpenStax

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Question Posted: May 30, 2024 09:02 AM

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Mortgage of ($ 87,690) at (6.2 %) interest for 30 years. Assessed value of the home is

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Contemporary Mathematics

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