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29 Ben and Carla Manchester plan to buy a condominium. They will obtain a $199,000, 25-year mortgage at 5.0 percent. Their annual property taxes are

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29 Ben and Carla Manchester plan to buy a condominium. They will obtain a $199,000, 25-year mortgage at 5.0 percent. Their annual property taxes are expected to be $2,796. Property insurance is $840 a year, and the condo association fee is $285 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9-9. (Round time value factor to 2 decimal places and final answer to the nearest whole number.) 10 points Total monthly housing payment eBook Hint Print References

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