Ben and Carla Covington plan to buy a condominium. They will obtain a $221000, 30-year mortgage at 50 percent Their annual property taxes are expected to be 51.850. Property insurance is $490 a year and the condo association fee is $225 a month Based on these items, determine the total monthly housing payment for the Covingtons. Use tZ (Round your intermediate calculations and final answer to 2 decimal places.) Total monthuy housing payment Term Rate 30 Years 25 Years 20 Years 15 Years $4.74 Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount) 3.09 3.5 4.0 $422 4.49 501 $5.55 5 80 606 $6.91 7.15 7.40 4.77 528 4.5 5.56 6.33 7.65 5.07 5.37 50 5.85 660 6.88 7.91 8.17 55 5.68 6.14 6.44 60 7.16 8.44 6.00 6.32 65 6.75 7.46 8.71 20 6.65 707 7.75 899 to 7.5 6.99 9.27 7.39 7.72 806 8.36 7.34 80 956