Question
An individual has a home that appraises for $500K, their original mortgage was $400K for 20 years @ 3% interest. The owe $3600 per year
An individual has a home that appraises for $500K, their original mortgage was $400K for 20 years @ 3% interest. The owe $3600 per year in property taxes, $120/month in PMI, $600/year in homeowners insurance and have a HOA fee of $200/month. How much is their total annual housing expense?
Group of answer choices:
$2,218.39
$34,660.68
$2,888.39
$26,620.68
$27,290.68
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
HBR Guide To Finance Basics For Managers
Authors: Harvard Business Review
1st Edition
1422187306, 978-1422187302
