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Ben and Zhang Manchester plan to buy a condominium. They will obtain a $165,000, 20-year mortgage at 6.5 percent. Their annual property taxes are expected
Ben and Zhang Manchester plan to buy a condominium. They will obtain a $165,000, 20-year mortgage at 6.5 percent. Their annual property taxes are expected to be $1,812. Property insurance is $576 a year, and the condo association fee is $235 a month. Based on these items, determine the total monthly housing payment for the Manchesters. (Exhibit 9-9) Note: Round time value factor to 2 decimal places and final answer to the nearest whole number
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