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Ben and Carla Covington plan to buy a condominium. They will obtain a $ 2 2 0 , 0 0 0 , 3 0 -

Ben and Carla Covington plan to buy a condominium. They will obtain a $220,000,30-year mortgage at 5 percent. Their annual property taxes are expected to be $1,800. Property insurance is $480 a year, and the condo association fee is $220 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
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