Ben and Carla Covington plan to buy a condominium. They will obtain a $224,000, 20-year mortgage at 8.0 percent. Their annual property taxes are expected to be $800. Property insurance is $680 a year, and the condo association fee is $200 a month. Based on these items, determine the total monthly housing payment for the Covingtons. Use Exhibit 7-7 (Round your intermediate calculations and final answer to 2 decimal places.) Total monthly housing payment Term Rate 30 Years 25 Years 20 Years 15 Years Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount) 3.0% 3.5 4.0 4.5 $4.74 5.01 5.28 5.56 $4.22 4.49 4.77 5.07 5.37 5.68 6.00 6.32 6.65 $5.55 5.80 6.06 6.33 6.60 6.88 7.16 $6.91 7.15 7.40 7.65 7.91 5.85 5.0 5.5 6.0 6.5 6.14 8.17 8.44 6.44 7.46 8.71 6.75 7.07 7.0 7.75 8.99 7.5 6.99 7.39 8.06 9.27 8.0 7.34 7.72 8.36 9.56