As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Term of Loan Annual Property Tax (years) Amount Interest Financed Rate $290,000 3.50% Need Help? Read It 25 $ Monthly PI $6,513 Annual Insurance $2,156 $ Monthly PITI 4

Need Help? Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments